Python Create Stop Watch That Can Count In 100ths Of A Second?

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Windows

Python

Win7

Hello Everyone!
i have a problem again(good lord in retrospect i really don't know how to do a lot of stuff because i have asked so many questions in the previous weeks.)
i need to, in blender 2.68.0 create a stop watch using a python module(not any bge module or any blender module) that can count down to the 1000th millisecond(i don't know if this is correct or not so here is an example of the output of what i want: 10:11:547
10 = 10 minuets(i really hope i spelled that right, the spell check says i did so i am going to believe it)
11 = 11 seconds
547 = 547ths of a second)
i also need to do this regardless of the frame rate blender is running at(i am using the game engine that is built into blender called the blender game engine)
also, the script will be running in the game engine so it might be affected by the frame rate. in order to get past this i was thinking of using the system time as a work around to this obstacle.
so how would one accomplish this?
if someone comes up with something, all that i ask is that they please test there solution in blender. i would also get the system time and print it to the screen and compare the second counts with the system time second counts.
you can get blender here.
thank you all for your help in advance,
MaterCodeon