yes it does, I've been wanting to make a smaller balsa one for the smaller planes. I figure if you are careful in building it, and if you always reference it the same way, it's probably as accurate as any I could buy, certainly accurate enough for a sport flyer like me.
Same with my triangles. I sand and trim until I'm satisfied that they are "good enough" I have at least 4 "speed squares", 2 framing squares, a drafting "T" square, various other objects for squaring. I can take any 2 of them and strike a line off of the edge of my building table and they won't line up exactly. The drafting triangles you get from the art store are good. Some of the carpenters squares will be square on one side of the blade, and not the other. Most levels wont read the same if you flip them end for end. But, I'm buying "bargain" stuff for the most part. I know if I looked beyond the local hardware stores and went to drafting or engineering supply houses I could pay a lot of money and get more accurate stuff, but I have to tell myself it's a model airplane, I don't work for NASA, I don't even fly competition...so it's good "enough."
Austin