I'm a land surveyor and yep, those cloth tapes will really stretch. Over 0.10' in 100 feet. Everything we do that requires accuracy, which building layout falls under, we use a steel tape that we call a "chain". Just about everything we do is in 10ths and 100ths of a foot and not in inches. That really confuses people when they first start out. For shorter distances, say less than 200 feet, a steel tape is more accurate than our electronic equipment. You should also correct if the tape is to hot or cold, it will shrink or grow to long. Thats more of a problem in the winter than the summer though.
I like your laser level rig. If you have ever been around alot of construction equipment, they use a similar rig when grading building pads. They do a great job.