GigaRouter Latency?

(1 ms is a _lot_ of time to route a packet).

Indeed. A full 10Mb/s Ethernet with minimum sized back to back packets has
~14200 packets per second. If every one of them is IP, that gives you 70us
(.07ms) to handle the average one. Fortunately, most packets are not minimum
sized. Unfortunately, most links are must faster than 10Mb/s. 1ms had best
appear to be a great deal of time in any router on a modern network.