The absolute tolerance of 1e-3 is meaningless, when the values are very small, e.g. 1.234e-27. Then the relative tolerance is more useful.
The precision of the result is IEEE-64bit double in every case, but the accuracy is influenced by the tolerances. The tolerances are used to limit the local discretization error: If the difference between a high-accuracy and low-accuracy integration is higher than one of the tolerances, the step size is reduced.
If the tolerance is too low, the large number of steps will increase the accumulated rounding errors, while for a to high tolerance the local discretization errors dominate the accuracy of the result.
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