Ron - good question. Thre easy answer is 'yes' The more involved answer is ..still .... yes
In the original computer model we work with actual dimensions and we can set the collision limits to whatever we want/need. This really helps in our main line or work which is Civil and Structural design and Project Management. We build up a model of the building from the individual pieces, down to the nuts and bolts. If they don't fit in the model then they won't fit when built. We also model the MEP (mechanical, electrical and plumbing) systems which will show any conflict or collision with other elements. We can set that collision tolerance to any number to ensure that, say, a gas line is never closer than 'x' feet to an electrical main, or 0.001" for gears .
From that model we can not only make a paper drawing for construction but we can produce a list of components - this many bolts of this diameter/grade/length and that d/g/l etc etc. With modeling in the 4th dimension (time) we can show you a model of the building at any date of construction. That also lets us tweak the schedule to save a few days here and there.
Using as an example that D-valve in the video the first problem in modeling the piece is that the scan is of a broken or worn part, so the model with replicate that. We'd then take measurements of where the part fits to make sure the scan was ok if it was made from stuck together broken pieces. The printed ABS piece would then be tested in place and machined so that it fitted. The model could then be tweaked, new piece printed, then cast, then machined to fit. A competent tool-maker would find no problem with that at all.
There'll always be mistakes and screw-ups but with the electronic models they are easy to change, and re-printing a prototype is easy. These changes are far easier to make and fix compared to the original method of wooden models of the part being cast. Cast parts are always made with extra material so they can be machined down to the dimensions required. The first piece machined on the mill would be checked for dimensions and fit, then the remaining 999 copies can be done.