"Hardwired" bike computers typically show 7.2 miles, give or take when people put in the correct wheel size in the setup. That's what I consider the full lap to be.
My Garmins (510 and older models) have consistently yielded 6-something. From 6.2 to 6.9.
Not long ago my 510 read 7.2 on the nose. I was floored. I have had Garmin wheel sensors for years but the Garmin units apparently still totals the mileage from what the GPS can identify. Many tight corners can't be captured and look to the GPS like a straight line. The same Garmin on an open road with no tree canopy will give a much more accurate reading. When I ride the Monon and I go from a wide open area with no trees into a section with a dense tree canopy my speed reading immediately goes down.
Getting back to my mentioning my Garmin reading 7.2 miles at Town Run - the Garmin needed a full reset to factory defaults a while ago. I normally do a wheel roll out to get an accurate wheel size and enter the number in the "custom wheel size" section of the Garmin. But before I left my house to ride to Town Run one time, I heard the Garmin beep as I was riding down 116th street and could see that the Garmin was saying that the automatic wheel size was just calculated. After a lap at Town Run I noticed the distance was 7.2 miles. So, I guess Garmin's automatic wheel size calculation is the way go.
As a side note for those who look at the Town Run Strava segment, keep in mind that the most popular Strava segment (the one pretty much everyone uses) is short. The segment doesn't start until you are well into the woods and on the return the segment ends well before you get to the shelter. I don't care about that, but many do. I'm not a Strava hater, either. I uploaded once to the Town Run Strava segment just to see how it works, going from a Garmin up to Strava.
All I really hope for is a Garmin unit that will accurately measure my distances. I like to know how many miles I ride in a year.
On another note, my 510 "bricked" a few weeks ago. Garmin tech support confirmed that it is shot. That's so frustrating. A little over 2 years old. It was not cheap. They'll give me 20% off a new unit or give me a refurbished 510.