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That's an odd quarter mile. Its a surprisingly high terminal speed for that quarter mile time. Its the sort of time/speed combination that a car would get if it had a lot of power, but had trouble putting it down off the start line.
Depending on how accurate the accelerometer is inside these things then they could be very accurate.
Remember the only measurement these things need to work out really is the g forces (i.e. the accleration value), everything else is simple maths using newtons equations of motion and known values.