I think the PA's historically have generally been very accurate. There have been notable and famous goofs (Supat Rungratsamee, Cherno Samba, Moses Ashikodi anyone?) but overall SI get things right so often it is mind boggling.
Hard to disagree with that. I have myself become aware of numerous potential stars through playing FM way before I actually heard of them IRL. I'm sure most people can relate to that. And if I'm not hugely mistaken, there have even been instances of people/teams actually using FM for scouting and football-related research (Everton, Ole Gunnar Solskjær).
With that said, I have of course also come to expect a lot of players who never really made the breakthrough. I was confident Armand Traoré would be a star left back for Arsenal, but he ended up at QPR and doesn't really seem capable of becoming a top player anymore.
But that's just the effect you get from trying to 'dissect' football players into simple numbers. You hit and you miss. In my opinion, FM have been doing a lot more hitting than missing.