In reply to Richard Carter:
> What's the best way (after a water test) to measure body fat?
Better than a floatation tank would be a medical scan - MRI, CT or DEXA. (The only really accurate way to measure your body fat, since it's the only way to measure it directly - every other method relies on some kind of approximation.)
Not really accessible though, unless you're prepared to spend a fortune.
Equivalent would be 'Bod Pod'. Which is essentially the same thing, but measures the volume of your body using pressurised air rather than dunking you in water. (More accessible, but also pretty expensive.)
Next probably calipers - IF they're used with care, and skill.
And last would be any kind of bio-electrical machine. They're really not very accurate at all.
I don't know where estimates based on body measurements (like the "US Navy" method etc.) fit in with that.
I think for most of us, an honest look in the mirror is probably good enough.