This conversation has been too much fun to read! Every gadget has a place and purpose, with some limitations.
For comparison purposes, my 1985 Vespa PX150E came from Piaggio with an electric fuel gauge AND a low fuel light! And the fuel tank only holds 8 liters total, including @ 1.5L in reserve. Petcock was originally without a reserve position.
It did not take me long to run out of petrol once the fuel light came on, so I retrofitted a reserve fuel pipe in the fuel tap, which allows the tap to go into reserve a little earlier, and I just ignore the fuel gage, most of the time.
As someone here correctly stated earlier, fuel consumption rate varies greatly with your riding style at the moment, head/tail wind, heavy traffic, etc. Even the trip odometer alone can give you an even less accurate estimate.
What if your fuel system starts to slowly leak? So, you can't beat a reliable reserve feature, if you take into account all the possible conditions you run into while riding.