I would think that it has to do a lot with the strike of the shot. For most good players, they know how "hard" or "soft" to hit a shot, but if there is a mishit, and the strike is not pure, it will never end up where it should be.
I do a drill a lot for my lag putting, where I hit putts to different tees at different lengths, and every time the putt leaves the face (without moving my head) I say to myself where I think the putt will end up in relation to the tee I am aiming it. Very rarely am I wrong in terms of "short" or "long", and often times I can usually call out, fairly accurately, how far or short ("18 inches", "2 feet", etc) the ball will end up.
Stew