Well, technically the description still fits. It doesn’t mention the brush tip shape, and it doesn’t get affected by the option.
But you are correct — there was a time the tip wasn’t displayed in any mode. It’s not there in CS6... but it is there in early CC builds, so it happened sometimes in-between.
I think it should be just a separate 'Don’t display brush tip shape', somewhere in Preferences or Paintbrush Tool Options.

Here is the info I got from several user sites (searched many places) - "The pen and brush tool icon will be replaced by a cross if you use the Caps Lock or check Use Precise Cursors in the Preferences." So it sounded like the circle will be turned off, making it look like a bug.
I cannot tell you when this started, I have been using Adobe products since Ver 1 and do not have access to older versions of course. Thank you.

Use Precise Cursors option doesn’t remove the brush tip shape you are seeing. It can be circular or elliptical and stays there for any calligraphic brush. There is no option to disable it.
Do you mean this, or do you mean the 'ghost' of the tip shape stays on canvas even though you are using a non-calligraphic brush (art brush, scatter, pattern ones)?
You say it used to different? Are you sure? Can you name the specific build it started, or is it just an assumption?
Please help to figure this out.

Turned on precise cursors to stop circle at brush cursor, now I have a large X AND a circle. I used to love drawing in Illustrator and now I hate it, have spent hours just trying to get brush strokes in right places.

Yes! Totally agree!

Give the user the option to disable the brush cursor guide. Some seem to like it but it would be helpful to me to be able to turn It off.

I just got a screen tablet. The "Use Precision" cursor is too big. The X gets in my way in the same manner as the brush cursor.

I'd like to see several options aside from just an X. A fine reticle, a simple dot or circle, etc. Additionally, pls incorporate a sizing option for each fine precision icon.

I've seen multiple complaints/requests on various forums requesting this feature be either eliminated or for the user to be given the option to disable it, yet it's still unaddressed, why?

Who the **** thought of that one! Absolutely annoying!!!

I absolutely HATE the annoying brush preview that follows the brush cursor around with the calligraphic brushes!!! It is totally distracting and completely unnecessary. I looks like a classic example of fixing something that already works. Could you at least make it so it can be turned off? Thank you.

Please provide an option to disable the brush size preview circle (the little circle that appears under your cursor whether you are using the mini paintbrush or the precise (crosshairs) cursor.

I want to use illustrator for screen casting, and while most screen capture software can hide the cursor, they do not recognize the little circle as part of the cursor so it shows up in videos when you'd rather just have drawings appear.

How can I turn off the brush size indicator circle at the end of the brush tool? It is very annoying, lags behind brush and can't see drawing as well.