gerdW, I have posted up my program in a new thread if you would like to take a look. Link is below.
http://forums.ni.com/t5/LabVIEW/Help-me-speed-up-my-program/td-p/2778148
I have decided that the regular timer is good enough for me. I will settle with 1ms accuracy. I have moved all calculations with local variable to the end of the sequence structure so that they don't impact teh delays.