When writing a paper, there are inevitably mistakes. Many of these can be caught by careful revision, and the more time spend revising, the more mistakes which will be caught. However, clearly a draft should be submitted at some point.
How should one determine this cutoff point? How much does it vary by field, individual, etc?
As a concrete example, I recently submitted a paper to a big ML conference where one of our results was off by a factor of two. While we fortunately caught this error before the camera ready version, the experience has caused me to question whether I am spending sufficient time on revising my work before submission. I have heard that such errors repeatedly occurring in published work can seriously damage your reputation in math.
On the other hand, I wonder if the standard for errors like this differ across disciplines. For instance, if we had submitted the paper to a journal in applied math, then I believe such an error would have been caught by the referees since the review process there is more fine grained. Thus, it also seems possible that fields in CS, where conferences with short review processes (relative to math journals) are standard, have a lower threshold on what what kind of errors are acceptable to the community.
I've already discussed this with my advisor. However, I am also interested in hearing the thoughts of others on the issue.
Edit: Thanks everyone for the responses! I'd also be interested in the second part of the question about how these standards vary across disciplines, individuals, etc.