Hello:
Your hardware (PCI-6503) is a software-timed DIO device. This means that you can read/write from/to it using software commands and there is no timing built into that. The best way to do what you asked would be to take the current time using "Tick Count (ms).vi" then read the value of the button as fast as you can and when the value changes, take the time again and subtract those two times. However, your resolution will probably be around 5-10 ms since Windows itself can take up to 10 ms to give LabVIEW the processor back... Does that make sense?
I attached a screen shot of a block diagram that does this...
Good Luck!
Sincerely,
Brooks B
Applications Engineer
National Instruments