My Master and I talked about this a lot before he was my Master and we only talked about these things in theory. He always said, he wouldn't want to be a 24/7 Master because he didn't want to be perfect all the time.
He wouldn't punish me for being late except if I was late in slave-state. In our everyday life he'd maybe look at me strictly or tease etc. but I only get punished as his sub when I know I am being his sub right now and not his best friend/his lover/his girlfriend.
He was late once - badly late when he was supposed to get me from the ferry in the middle of the night. And he fell asleep - grr! Of course I was angry - or sad maybe. And a girl/sub has her own ways of punishing her man - pouting, showing how cold you were, and make him feel guilty - of course minus the bitchy.
But really, I get what you're saying. If one claims 100% control and expects you to be perfect or else - he'd better start with being perfect. Its a difficult subject to bring up though.