How is any error rate, no matter how small, acceptable when it comes to killing people?
But at least the question "how is that acceptable?" is in fact a question of a moral nature. It's unacceptable, but it is unacceptable because it is immoral.
While I don't like the death penalty I don't think it's that different from a very long sentence. I don't think it makes sense to say that any punishment needs an absolutely perfect error rate.