It is 100% accurate in terms of which teams will make the tournament. There are small fluctuations in the seeding, as the engine does its best to avoid early round matchups between conference mates, but its still very close.
When projecting if you're going to be in the NT or not, don't forget to factor in stolen bids from conference tournament champions who otherwise wouldn't have made the tournament. You can find out how many stolen bids there are relatively quickly by starting at the bottom of the projection report and scrolling up, looking at all the teams "neutral site" record. Every team that has a record of 3-0 or 4-0 that is below 64 on the report can be considered a stolen bid.