If you are doing live audio, or a FPS game, an extra 100 milliseconds latency can take your guitar effects processing or fast 3D game from great to unusable. Even an extra 33 mS can be really bad.
Right - that's why I included the bit about things demanding immediate feedback like games and interface input. When you're in that realm of performance being demanded, the question becomes what difference does 10 ms or 1 ms make. I'm sure someone can come up with something demanding sub-ms precision.... Maybe a super high speed camera or something.