1) would the timer be accurate to within miliseconds?
2) would errors accumulate? Or if the system was busy of 2X seconds, would the event fire twice in quick succession, and "catchup" afterwards?
3) If you say ran "every 1 second" say 1000 times (i.e. let the event fire 1000 times), would the elapsed time be 1000s +/- <1s?