Thanks for the feedback Garry.
I would find it useful to reduce points by a specific tolerance (e.g. 5m) rather than percentage of points since reducing a "noisy" GPS track (e.g. lots of woodland singletrack) by the same percentage as a straightish one (e.g. road) loses a lot more distance. Perhaps it could be added as an alternative rather than replacement for the existing approach.
As an example, today's road trip goes from 7.2m raw to 6.9m with only 3% of the points but yesterday's off-roader goes from 11.5m to 10.6m. I would prefer a simple "give me 5m tolerance".
In other software, a hard 5m tolerance reduces today's from 3,600 points to 160 (4%) and yesterday's from 10,000 to 350 (3.5%) so it's clearly a fine line between too much and not enough if yuou just want to remove GPS errors in thick woodland, "twists and turns" on windy paths, etc.