I'm considering building an absolute, indoor robot-positioning system based on ultrasound Time Of Flight. Transducers will be ordinary, narrow-band, 40 kHz ones.
Based on your experience, what is the best exactitude and precision we can achieve with such a system?
I'm aware that the answer to such a question will depend on many factors, both hardware and software (if applicable), but I'm not asking about the performance of one solution or another, but about the intrinsic limitations of the ultrasound technology.