PocketMatrix

I think your only option is to do busy waiting and use a performance counter.

In Windows CE >= 3 the accuracy of Sleep should be 1-2 ms. On a PC it is not that good.

I did some tests on a Cassiopeia E-115 Pocket PC and on that device Sleep(1) would mean sleeping in 20 ms. This is the behaviour that devices < Windows CE 3 would have, but all modern devices will probably have good Sleep accuracy.

Using socket select command to realize Sleep has some unwanted influence to power monitoring and clock counter registers.
And using GetTickCount is more correct.