The requirements for the estimation are basically the fulfillment of the properties of spectral envelopes as described in section 2.3, with some additions and precisations.
The degree of exactness is determined by the perceptual abilities of the human ear. In the lower frequency range, it can distinguish differences in amplitude as small as 1 dB. For higher frequencies, the sensitivity is a little lower.
Sometimes it is not possible to link every peak, e.g. when the additive analysis finds a group of peaks close to each other in the upper frequency range. Then, the spectral envelope should find a resonable intermediate path, e.g. through the center of gravity of each frequency slice of the cloud.