Denney,
For me, the decision to buy a Phidget 0/16/16 was based primarily on my desire to get rid of missed lap counts.
My parallel port setup proved too slow in a Windows environment for my 4-lane track and PC Lap Counter. You can imagine the difficulty in trying to run race heats and championships when you cannot rely on the timing system. The Phidget's circuitry allows it to buffer the lap counts, so the problem of missed laps went away with the installation of the Phidget. Realize tha the Phidget input channels are "polled" 1/125 sec or .008 sec, so you will never truly have timing accuracy to .001 sec with the Phidget. However, this has not proved to be a problem at all. Very, very close races have always been scored correctly with my Phidget system.
With regards to hooking up loads to the Output channels of the Phidget 0/16/16, the manual states the following:
"Maximum Continuous current sink is 2 Amps. Load can be Relays, Solenoids, current limited LED's, Bulbs, Motors, etc."
The manual also says to limit input and output voltage to 30 Volts DC.
You can look at the Phidget 0/16/16 manual here, for an example of wiring up a load to an output channel of the Phidget.
http://www.phidgets.com/documentation/Phidgets/1012.pdf
Hope this helps.
Foiler in MI