Precision Forgings vs. Conventional Forgings?

Precision Forgings differ from Conventional Forgings in many ways.  While Conventional forgings are typically machined on all surfaces, a Precision Forging is often characterized by very slight draft angles (0 to 1 degree), thin cross-sections, close tolerances, small radii, and excellent surface finishes.
While the tooling for a precision forging is typically more costly to produce and maintain, the advantages of precision forgings over conventional forgings pay multiple dividends.  The net or near-net shape of the precision forging can greatly reduce machining times and produce a part that is nearly ready to put right into service.  Additionally, the optimal grain structure of a precision forging increases fatigue life, and produces superior stress and inter-granular corrosion resistance.