07 ES 350 speedometer reading wrong speed
 

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I set my cruise and reset the average speed to get the correct speed reading and it seems like it's about 3 mi off. Does anyone else seem to have this problem

Check what is your speed at 1400 rpm on 6th gear? It should be exactly 50 mph.

Toyota and Lexus speedometers usually read about 3 MPH fast. That is normal. They do not want you to speed too much!
Whether your cruise control is inexact is another story, however it is probably not worth the expense to do anything about it. Just note the discrepancy and adjust for it.