It's actually pretty important for those of us who use GPS hiking and on bikes if we want accurate speed. If it's off 10m behind you and then 10m in front of you the next reading, your speed will jump up and down constantly if you're moving at only 1-2mps. Not that it'll get you lost, but you might want to tear it off the bars in frustration.WAAS is a method of refining the signal in order to provide a more accurate location. It is done on the device, and if you have WAAS enabled, you use that part of the signal to get your fix. If not enabled, then plain basic location is still available, but just not as spatially accurate. No big deal if you're backpacking, very big deal if you're surveying or targeting.
So if your device is acting like the OP's, just disable WAAS and take the location with a small grain of salt (10-30 meters off, maybe).
@Canadian-great line! lol