Excellent. Here is something else to consider...
The greater the CEP figure, the more likely that the warhead will an air burst type. The burst altitude differs, of course, but it is not that difficult to reason out why: Explosions, like electricity or anything under pressure, will ALWAYS seek out the path of least resistance. So why do any damage to dirt? Is that your intention? An air burst will 'radiate' the concussive force in all direction and if there are any material propelled by that force, an air burst will make better use of those material than if those fragments were delivered at ground level.
A 500 lbs bomb or 230 kg will produce a fragmentation human lethal radius out to about 30 meters. Against equipment is a different issue but it is reasonable to cut that figure in half where the equipment is rendered either incapable or severe reduction of contributing to the war effort.
The lower CEP figure will reduce the explosive load needed to create the same level of physical damages to both hard and soft targets. That is why the US is moving towards the Small Diameter Bomb (SDB) type. This will also lower the air burst altitude to take maximum effects of the concussive force and fragments.
Here is something about naval warfare that most people do not realize: If a land structure like a building is damaged, the human warfighters and their equipment can move to another structure/location and continue to prosecute the war. But over water, if the ship is damaged, the human warfighters are either immobilized or their contributorship to the war effort is severely curtailed. They are trapped. That is why it is better to cripple a ship than to sink it. Crippling it takes far less effort and resources. So if you have a very capable warhead with a CEP figure of less then 5 meters, an air burst of 5 meters will do serious damages to the enemy.