In fact this is a DOMHighresTimeStamp. Units are milliseconds, but resolution is at least microseconds (and even higher resolution for Mozilla Firefox, depending on CPU model).
This API also allows content to store names for timers and timestamps (in what scope? who knows.. the privacy section of the W3C spec basically just takes a shit on any privacy concerns), complicates things like #16110 (moved), and the API generally appears to be useless from a practical point of view.
I say we disable it for now, and maybe even forever. The dom.enable_user_timing pref does in fact seem to work.