It must depend on what part of the many subsystems are monitored.
Summary information for pilot instruments is probably OK with milliseconds.
You are right that some subsystems need more precise resolution. GPS is down at the nanosecond level.
Alex
"There is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge."
-- Isaac Asimov