I have an older bathtub that uses a trip-lever drain and I have noticed that it does not retain all of the water when the drain-stop is engaged. By this I mean if you had filled a bathtub and came back in ten minutes, you would notice the water had decreased by an inch or so. When I think of how much effort is usually required to be 100% water-tight (crush washers, sweating pipes, series of o-rings and washers), this makes sense - a simple metal bobber settling via gravity in the drain pipe is nowhere near what anyone would consider "sealed".
In a ballpark measurement, how water-tight should trip lever drains be?