Yep, even WAAS is only considered to be accurate to 3m, IIRC.
There is also an FAA graph of GPS measurement accuracy[1] which I'm guessing is the source of various "accurate to 2.2m" claims I have seen.
[0]http://en.wikipedia.org/wiki/Wide_Area_Augmentation_System#C...
[1]http://www.gps.gov/systems/gps/performance/accuracy/histogra...