Thanks for the answer, but that is just not true.
On Win9X there are 32 multimedia timers for the entire system and I can't find any limitation on per-process use. On WinNT each process can have up to 16 multimedia timers. I don't know the specs for W2K and above, but I would use a queue timer.
As I suspected this is a limitation of the NI timer, so I wont use it.
Thanks