Realistically? I don't think anyone buying a car here in the States takes the emissions or the fuel economy labeling seriously. Ok.. maybe a few diehard greenies do. But I think the rest of us just look at it as a "guideline". We know the fuel consumption will be higher since that test if flawed and we assume the same for emissions. Crash testing... maybe we take it a bit more seriously.
The fuel consumption test has been a joke since day one. No wind resistance... just run the car at certain speeds on a dyno. I understand now that part of this run on a test track. But way back when, if you dropped a 4 cylinder into a Cadillac instead of the 8 cylinder monster that was there, it suddenly got great mileage. It would barely move, but the fleet mileage goal became attainable since it was "an option".