calculating calories burned

So we all know that the exercise machines, mfp database, online activity/calories burned lists and hrm monitors are notoriously inaccurate in telling us how many calories we burn for lots of reasons. So, in an effort to get a more accurate count of calories burned, i've started using this online calculator. I take my pulse manually periodically during my workouts and then plug my average into the calculator for gross calories burned

http://www.shapesense.com/fitness-exercise/calculators/heart-rate-based-calorie-burn-calculator.aspx

then i plug in that number in the link underneath to get net calories burned

http://www.shapesense.com/fitness-exercise/calculators/net-versus-gross-calorie-burn-conversion-calculator.aspx

I wondered what folks thought of this. Accurate and personalized or just one more arbitrary calorie count?