Hello,
Normally I do that using the tick count (time and dialog palette) function that return the milisencond value of the couter and then at any time put another one in the places of the code you want to monitorize and subtracty from the first one.
You have also a tool (tools..advanced... profile vi's) than give you timming information about the sub-vi's of the application.
To change the thread priority, go to file...vi properties, then choiose the execution tab and there you have the thread in witch the vi will run and the priority.
Hope this helps,
Paulo