Well, maybe, but the gadget says it's only accurate to about 50’ (not 20), so one could think of it that this is an 80' radius – entry error of 30' plus location finding error of 50'. The person who provided the original coordinates probably wasn’t accurate to better than 10’. So, it seems the ambiguous circle could be as large as 180’ in diameter - 2 X (80 + 10) = 180.
If the cache placer was using my GPS his error would be 50' not 10 so the total would be 2 x 130' or 260'.
Now I think my original estimate of 120' was too small.