Makerbot is claiming +/- 2mm. In comparison, high-end laser scanners claim accuracy in the tens of microns, 50-100x better than MakerBot.
12 minutes is a slow capture time for small parts like that.
$1400 is cheaper than any good 3D scanner on the market, by far. The only competition is a Kinect, which costs much less but doesn't have enough detail for small parts yet.
But this is not a good scanner.
This is a hobbyist-class scanner like the ~1100USD CADscan (http://cad-scan.co.uk/) and the 599USD Matterform Photon (http://www.matterform.net/). These and the Makerbot product share essentially the same technology.
The next level up from this would be something like NextEngine (>3000USD to get going): http://www.nextengine.com/.