That's interesting. However, I wonder ... don't you think it can be abused in some games that try to compensate lag? For example, what if they use a code similar to:
delay = currentFrameTime - lastFrameTime
playerPosition += direction * delay
I know that some games (such as Diablo III) may automaticallt ban you if you happen to run a program that may be used to cheat (they detect that via a background process check).