LeeJeffries said:
Whenever I read about or listen to things GR related, physicists always say "with incredible accuracy" or other words that imply GR isn't 100% accurate, i.e. they never use the words 100% accurate
How innaccurate are they talking?
The other posts probably explain correctly the actual meaning of the statements you have heard. However, I thought I would give a slightly different take on the matter. The modern scientific method is based on the notion of http://en.wikipedia.org/wiki/Falsifiability" . As such, valid theories can never be considered correct (in the ontological sense, i.e.,
the theory that corresponds with reality). However, any theory that matches the observed data in a certain range of approximation can be said to be correct to said level of approximation. For example, Newtonian gravity has been falsified since it cannot explain observations such as the perihelion precession of Mercury; it is still used for many applications because it is a good approximation of reality as long as the ratio of an object's mass to its radius is sufficiently small to meet the desired level of precision. Similarly, due to theoretical considerations it is deemed likely that GR will not correspond to observations when length scales are sufficiently small.
You might ask "How small is 'sufficiently small'?". http://arxiv.org/abs/gr-qc/9512024v1" article gives the effects due to GR and quantum mechanics (QM) as (usually small) deviations from the potential of Newtonian gravity (ref. equation 52 at the bottom of pg. 17 of the link) . When the deviations become of similar magnitude to the Newtonian potential (i.e., the following equations are ~1), one knows that a better description (than the Newtonian one) of the system is necessary (such as GR, or whatever the correct theory of quantum gravity (QG) is). For GR, the deviation is proportional to \frac{GM}{rc^2} so for M = 1 solar mass and r = 1 solar radius, it is ~2.1x10
-6. The quantum corrections are proportional to \frac{G\hbar}{r^{2}c^3}, which for the same values is ~5.4x10
-88. For r = radius of Mercury's orbit, GR ~2.6x10
-8 (within a factor of four of the fractional deviation of Mercury's orbit) QG ~7.8x10
-92.
In short, unless the correct theory of quantum gravity is very different from what is expected, it will be very difficult to detect any macroscopic effects on the solar system in the foreseeable future. So, for all practical purposes (at a level of approximation that can accurately reproduce all of the data so far), GR is the correct theory of gravity (deviations are only likely to be significant near the centers of black holes and at the beginning of the universe, both of which are due to the presence of singularities in the GR description of those regions of space-time).