Hit cap?? (specifically for paladins)

So I have read in this forum that the hit cap is 295 for raid bosses, but testing on the raid boss dummy in town over 3000 attacks with 0% to hit from gear gave a 5% miss chance.

Is this a bug or do we have some sort of inbuild precision?

There is a raid boss dummy in town?

5% miss sounds like equal level opponent.
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295 hit equals out to be a 9% increase chance to hit which is the amount you need to not miss a boss.
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Hinata of Crit Happens - 80 - Arygos

See this thread. There is talk about the cap has been reduced to 8% and preliminary findings agree.
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Majiben
If we wanted Ret to be a joke, we would have just left the tree as it was, and maybe kicked it a little for good measure. -GC