>VB timers are far from exact because of execution time, event queue delays, system clock precision, etc..
Well, as we've tried to explain in this forum before, this is not an accurate summary. The Timer control is predominantly limited by the granularity of the system timer (which differs on different the different MS OSs) combined with the fact that the WM_TIMER message that it sends is a low-priority message. Execution time, event queue delays, etc. are merely artifacts of this issue, and only become particularly important if you are trying to receive and respond to events close to the system clock granularity.
Under those circumstances, using a counter to count every minute (an interval of 60000, compared to a granularity of approx 54 on W95/98/Me or 10 under NT4/2000/XP) will not lead to any noticeable innaccuracy - unless you are really concerned with a few hundreths of a second.
It should also be noted that the Time function (and the timers that hide beneath SetSytem timer) suffer more-or-less the same limitations as the Timer control.