I know my old setup was a step-dir to 0-10V converter controlling a KBIC board, and given it was done via a SmoothStepper, Mach itself couldn't close the loop, and the SS plugin never had any sort of calibration.
The only area I noticed a major variation was below around 500rpm, as the spindle would struggle to start at anything below 100rpm requested, and would spin around 80rpm if requested to do 200rpm getting to about 50rpm difference at 500rpm, before being within 20rpm for the rest of the range from around 700rpm up. I never worried about it, as the speed was very repeatable so I just altered commanded speeds in my code files to suit.
Anytime you add open loop analogue into the circuit, you have potential for variation.
My new lathe has a KFlop which closes the loop perfectly, however that's a far more capable controller than the PP or SS.