Yea, it does say that. But is that documentation correct? (Much changed with HQF CBWFQ [BTW, overall, I consider post HQF CBWFQ a huge improvement, my only complaint with it was, upgrading an IOS to one using HQF CBWFQ. the same EXACT policy could behave differently. For example, FQ in class-default, pre-HQF was WFQ, but in post-HQF it's just FQ, of course, over the years, Cisco also revised how WFQ computed its weight ratios too, so WFQ to FQ is just an extreme case of that - laugh.]).
On CML:
inserthostname-here>en
inserthostname-here#conf t
Enter configuration commands, one per line. End with CNTL/Z.
inserthostname-here(config)#class-map match-any test
inserthostname-here(config-cmap)#match any
inserthostname-here(config-cmap)#policy-map test
inserthostname-here(config-pmap)#class test
inserthostname-here(config-pmap-c)#bandwidth percent 100
inserthostname-here(config)#int g0/0
inserthostname-here(config-if)#service-policy output test
Insufficient bandwidth 1000000 kbps for the bandwidth percent (100%) guarantee
!This wasn't unexpected - HQF says class-default must always have at least 1%
!I recall (?) in pre-HQF, using max-reserved-bandwidth 100
!you could leave class-default with no bandwidth
inserthostname-here(config-if)#policy-map test
inserthostname-here(config-pmap)#class test
inserthostname-here(config-pmap-c)#bandwidth percent 99
inserthostname-here(config-pmap-c)#int g0/0
inserthostname-here(config-if)#service-policy output test
!No error, this time, and . . .
inserthostname-here#sh policy-map interface g0/0 output
GigabitEthernet0/0
Service-policy output: test
Class-map: test (match-any)
27 packets, 2762 bytes
5 minute offered rate 0000 bps, drop rate 0000 bps
Match: any
Queueing
queue limit 64 packets
(queue depth/total drops/no-buffer drops) 0/0/0
(pkts output/bytes output) 27/2762
bandwidth 99% (990000 kbps)
Class-map: class-default (match-any)
0 packets, 0 bytes
5 minute offered rate 0000 bps, drop rate 0000 bps
Match: any
queue limit 64 packets
(queue depth/total drops/no-buffer drops) 0/0/0
(pkts output/bytes output) 0/0
!BTW, there's always a class-default, even if not explictly defined
!And, if you were wondering what the above's interface config looks like . . .
inserthostname-here#sh run | sec 0/0
interface GigabitEthernet0/0
ip address 192.168.1.1 255.255.255.0
ip ospf network point-to-point
ip ospf 10 area 10
duplex auto
speed auto
media-type rj45
service-policy output test
Possibly max-reserved-bandwidth still does something post HQF, or perhaps this is just a documentation error. But, pre-HQF, just like the above 100% allocation, if you tried to not leave class-default with 25%, you would get an error. Sometimes, depending on my CBWFQ policy, I did use to use a max-reserved-bandwidth, of 100%, so I could allow class-default less than 25%.
Since HQF, other than the 1% issue, seen above, I've never had to explicitly use max-reserved-bandwidth.
Anyway, I've given you a helpful bump because you're read the documentation, read these replies, and noted the discrepancy between them!
[edit - PS]
Being curious, I wondered what impact using max-reserved-bandwidth, might make, on the interface.
Tried it on my CML g0/0 interface, as above, it's an unknown command!
inserthostname-here(config-if)#m?
mac-address media-proxy media-type metadata
mop mpls mtu
