I would say that there are two kinds of spread:
1. How much you sway your gun about, and that is governed by the http://geck.gamesas.com/index.php/Gun_Spread_Formula.
2. How true the bullet flies to the barrel, as explained by Kai Hohiro. This is determined by the "Min Spread" value.
So, if the Gun Spread Formula dictates that your are swaying your automatic rifle around whilst firing, the bullets will fly in the direction that the gun is pointing, plus some extra inaccuracy courtesy of the "Min Spread" value.
And then, the auto-aim assist helps out, by guiding your bullets towards the target, if your aiming reticule is close enough. And how close is must be, is propably defined by another grand formula.
The "Spread" value is believed to do absolutely diddly-squat.
Or something like that. :blink: