Is LPV considered a precision approach?
LPV, LNAV/VNAV, and Baro VNAV are considered to be an 'Approach with Vertical Guidance (APV)'. These types of approaches are differentiated from 'Precision' approaches (ILS, PAR, etc.) in the FAA AIM (Section 5-4-5, Paragraph 7):


  (b) Approach with Vertical Guidance (APV). An instrument approach based on a navigation system that is not required to meet the precision approach standards of ICAO Annex 10 but provides course and glidepath deviation information. For example, Baro−VNAV, LDA with glidepath, LNAV/VNAV and LPV are APV approaches.