As I learned: The treadmill is not the place to calibrate your nike+kit
I always run metric since I live in Germany and do not run with nike+ shoes.
I use the Malware pouche. The sensor was off by more than 10%.
I took it to a track (400m) and calibrated the kit. Now it is perfect. Less than 1% difference.
I do suggest to check that website:
http://www.gmap-pedometer.com/
to calibrate your runs.