I don't see what tolerances have to do with it? You still have to do math if you have to site a member between two other members regardless of the tolerance. For example, to frame an 8 foot wall you have to cut your studs down to accommodate the top plate and bottom plate and the trim plate above the top plate. Similarly with windows, doors, and headers. Whether you have a 1/16 tolerance or a 1/8 tolerance it doesn't matter. The only time I've had to deal with tolerances when framing is in making sure the drywall doesn't wave anything around by firring out or planing down each stud to put the wall into tolerance.
