Vs. Uncanny Accuracy
Let's not forget how this little gem duplicates an EPIC feat, making it worthless. So you can do something that is epic, waaay before you actually *are* epic...Not only that, but Improved Precise Shot is actually *better* than Uncanny Accuracy. Here's the comparison:
Uncanny Accuracy [Epic]
You can ignore anything less than total cover or concealment when using ranged weapons.
Prerequisites: Dex 21, Point Blank Shot, Precise Shot, Spot 20 ranks.
Benefit: When throwing or shooting a ranged weapon, you can ignore any cover bonus to the target's AC (up to a maximum of nine-tenths cover) or any miss chance conferred by the target's concealment (up to a maximum of nine-tenths concealment). If the target has total concealment or total cover, the AC bonus or miss chance applies normally.
Source: Epic Level Handbook, p. 68
Improved Precise Shot: Your attacks ignore the AC bonus granted to targets by anything less than total cover, and the miss chance granted to targets by anything less than total concealment... In addition, when you shoot or throw ranged weapons at a grappling opponent, you automatically strike at the opponent you have chosen."
--CT