jonsca,
thanks for that. I had a read at the tutorial, not sure if I understand it correctly though especially when it comes down to distinguish between fixed and default...
From that same site fixed means that: "the value is represented with exactly as many digits in the fraction part as specified by the precision field and with no exponent part." (presumably meaning that the implementation will find the closest floating point number that carries that value to a certain number of digits, and will not use scientific notation)
vs.
Floating point is a way to increase precision at the expense of the size of the number and vice versa. That is the default for cout.