The subject has been discussed numerous times in the past as this thread from the year 2000 shows
http://www.pprune.org/tech-log/10870...r-checked.html
The Flight Safety Foundation also have a publication related to this
http://flightsafety.org/files/alar_bn3-1-altimeter.pdf
Altitude/Temperature correction charts show only a small correction if the temperature is above -20C and the airfield below 700' elevation. -30C and 5000' gives an 820' error
Barometric altimeters and manual flying obviously have their limitations, hence Rad Alt and autopilot for CAT 3.
as i understand it, if there is an unexplained discrepancy you have two options.
1. continue with the LLZ app
Some airlines won't allow this below a certain altitude as there isn't sufficient time to adjust, a go around is mandatory