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This paper examines how communication delays in delivering power system measurements across a computer control network (IEEE 802.3-Ethernet) can affect the accuracy of these measurements as viewed by remote hosts on the network. A stochastic system model is developed, which is composed of both the physical infrastructure of the power system as well as the embedded computer network communication infrastructure. An experimental platform has been developed to determine the parameters of the developed model. This model is the first step in examining how delays in delivering power system measurements, as well as power system dynamics, can impact "real-time observability" of the power system.