@gulthaw @xssfox almost - they take you to a building if it's a dedicated block, usually they just get you to the street. Which is still good.
They also narrow down pretty close with just the first 3-4 characters - only 90,000 or so people share the first half of my postcode.
Given that the postcodes work well here it's an interesting thread. Expect that using distance as the crow flies works better there though, and it works terribly here!