For organism sequencing, I think this could be even worse than pacbio; there are modestly sized gaps in the sequence compared to relative to the known pseudomonas sequence; imputing the correct sequence when you have no available template is going to be a nightmare. It's easy to say "15% error" when you know what the 100% correct result is. But if you have no reference correct sequence and all of your parts are up to 15% wrong, the difficulty is compounded.
You're wrong about the PacBio though, the raw reads are random and cancel out easily with consensus. PacBio is the least biased and therefore the most consensus accurate next-gen sequencer available. See my other comments for some citations.
In practice though, even with these "circular consensus sequencing" reads, the error model is significantly higher than other technologies.
CCS still works really well if you want incredibly high accuracy. See this paper and figure 3 for Q90 quality reads: http://www.ncbi.nlm.nih.gov/pmc/articles/PMC3811116/
But most people don't need that for their applications. So just regular consensus using PacBio data alone is sufficient for excellent (Q60 or better) consensus accuracy: https://github.com/PacificBiosciences/GenomicConsensus/blob/...
it was assembled de-novo (IE, without HuRef), and the accuracy stats aren't horrible.
I think the single molecule approach has both advantages and disadvantages. Also I think that Illumina's technology in some sense also only reads parts of single molecules, and the averaging is done later in-silico, much as the nanopore would do also.
Typically (I chatted with my contacts at the Venter Institute)... best results are gotten by making long reads using pacbio or (maybe minion, they are looking into that currently) and using that to generate the scaffold and miseq/iontorrent to fill in the rest.
Honestly in my opinion (and I have been saying this for years) Pacbio and minion will never get over their error rate for "basic chemistry" reasons. These techniques use single-molecule sequencing and that is fraught with problems. Sometimes, it's better to average over a large population.