I don't have a hand held device, but do have a body fat scale. I can just weigh on it, or do weight and body fat. Works by pulsing a small electric charge through the body to measure. I agree it isn't truly accurate. But over time, I have gone from 38 % to 32%. So it is useful to me personally, as a reference to my personal progess. I don't know if either measurement was anywhere near my actual body fat percentage, but it has consistently gone down with weight loss and exercise, so it is reflective of change.
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