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Aspects of IEEE 1588 Version 2, in particular the provisions for unicast and for faster sync rates, when combined with hardware timestamping and a precision timing reference such as GPS, provide a powerful tool for studying packet latency and packet delay variation, both in the laboratory and in live production networks. Many devices found in telecom networks such as routers, multilayer switches, and DSL access multiplexers, as well as complex networks, do not lend themselves to study using exclusively the multicast of the original IEEE 1588 definition. Further, investigation of the temporal characteristics of packet delay variation benefits from the increased sync rates available in IEEE 1588v2. This paper presents results and analysis of measurements taken in laboratory networks and production networks in various locations throughout the world. Networks of various types ranging from Local Area Networks (LANs) to Wide Area Networks (WANs) are studied.