Nope.
Do not expect them to track down to millisecond accuracy values. Windoze internal timer is on the order of 50msec, if I recall correctly. With LV 7 they have added a hi-res timer function that can be trusted in the msec range. Of course, if Windoze gets busy with a high priority task or interrrupt, things may go by the wayside waiting.
Anything below the msec realm would have to be done in hardware with tight software, IMO.
You may want to verify in LV Help for these functions or look at software timing topics for further clarification.
Wheels within wheels / In a spiral array
A pattern so grand / And complex
Time after time / We lose sight of the way
Our causes can't see / Their effects.