Hi Hellraiser-
You are correct in saying that the analog output is the best option for your application. If you chose this method you would want to choose "Use Timing from Waveform Data" setting in the DAQ Asst.
There is the possibility of using clocked digital output with your M Series card, but you will need to provide this signal externally. This setting is made in the DAQ assistant by choosing Continuous Samples with External Clock under Task Timing. Also, you should note that clocked I/O is only available on port 0 for your device and not all 24 digital lines.
I have modified your VI for this type of setup and attached the result to this message. Basically, I used the From DDT VI to create a 2-D array of booleans. I then used the Boolean Array to Digital Waveform VI to create a single waveform and the Build Array to create an array (as required by the DAQ Asst. input).
Please let us know if you have any additional questions.
Thanks,
Tom W
National Instruments