The fact is that many thousands of folks with D can and do manage their BG levels successfully with the current level of inaccuracy... we just need to be realistic about the readings we get.
Make sure you test at the same time as you get a fasting BG at the lab to see how good your meter is. If it is way off I suspect that the manufacturer will provide a free replacement - it is the strips where they make their money anyway
Some meters are more sensitive to sample size... for example, the Contour can use a pretty small drop of blood, but I find it best to offer a larger drop and have the strip "syphon off " what it needs rather than trying to "push " a smaller drop blood into it... maybe not the clearest explanation, but technique certainly makes a difference for me.
As for CGMS, I think that the main thing it offers is "the trend"... it's all very well to know what my current BG level is, but is is stable, going up, or going down?