TimeCode

local currTime = os.clock()

... code to time ...

local deltaT = os.clock() - currTime
if deltaT > 0 then

//discard the "0" times and you should see some times print to console... I think it's the game or lua (not so much the code) that's resulting in these barely noticable delays. Maybe this is not a useful means to determine what is optimal.

    Print(ToString(deltaTime))
end

//////////// I'm not sure why but Shared.GetTime() in place of os.clock() just gives me 0's

But i did find an interesting way to about about doing this:

function YourModClass:Update(deltaTime)

end

The deltaTime of your Update function can be used to time code.

I suggest having a test-mod on hand for doing the following:

function YourModClass:Update(deltaTime)

    for i = 1,1000 do
        SlowCode()
    end

    Print(deltaTime)
end