Prior research indicates that the overall reliability of performance ratings can be improved by using ordinary least squares (OLS) regression to adjust for rater effects. The present investigation extends previous work by evaluating the impact of OLS adjustment on standard errors of measurement ("SEM") at specific score levels. In addition, a cross-validation (i.e., resampling) design was used to determine the extent to which any improvements in measurement precision would be realized for new samples of examinees. Conditional "SEM"s were largest for scores toward the low end of the score distribution and smallest for scores at the high end. Conditional "SEM"s for adjusted scores were consistently less than conditional "SEM"s for observed scores, although the reduction in error was not uniform throughout the distribution. The improvements in measurement precision held up for new samples of examinees at all score levels. (Contains 2 tables, 2 figures, and 1 note.)