There are already plenty of airborne/seaborne cruise missiles and guided bombs in the region, with nearly pinpoint accuracy and much faster time-on-target. Much cheaper and less likely to start a nuclear war with Russia, too.
I don't think anyone knows the accuracy of this particular missile because no one seems to know whose missile it was.
If you had an unlimited budget you could use space rockets to drop tiny bombs from the other side of the world, but it doesn't really make sense (like killing mosquitos with shotguns). Anyway, the payload is coming down at several kilometers a second, so that 'precise' strike will still destroy a large area from its kinetic energy alone.
You have to admit, it does have kind of a boyish sci-fi type of appeal. Knock down a building from the other side of the world within 20 minutes.
But practically, it's quite possibly the worst idea ever. The ballistic missile tests we conduct right now are already announced well in advanced with missile tracks specifically chosen so it couldn't be mistaken for an actual strike. The limitations in use would be ridiculous. I mean, you'll have to aim around Russia and China. And even then, it's still playing with fire.
"And we have prompt global strike affording us some conventional alternatives on long-range missiles that we didn't have before." - Gates
Source: http://www.msnbc.msn.com/id/36362669/ns/meet_the_press/page/...