Abstract
Hubble Space Telescope Fine Guidance Sensor 3 can generate sub-milliarcsecond precision parallaxes in eighteen months. We discuss the internal precision and external accuracy of our observations of Proxima Centauri and Barnard's Star. For some classes of targets Hubble Space Telescope will remain the parallax tool of choice for years to come. It can offer 0.5 mas precision. It will remain useful by satisfying urgent needs for quick results, by offering a 13 magnitude dynamic range, and by providing an unparalleled binary dissection capability.
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