Caveat: Except on specialty songs (mez, charm, et al) where you should have a base 2% fizzle rate... not sure if this was ever parsed since the fix, but it seems reasonable.
The base might be 2%, but they seem to have allowed it to max at 0% misses. I sat for 20 minutes with full gear on, spinning mez on a mob and never got a missed note. As soon as I took my gear off, I missed notes like crazy.