Hey, that M-M35 photo is from my site!
Awesome lol
They're nice mice...as far as serial mice go definitely one of the better ones, along with specific Microsoft models as well.
Latency, CH said it pretty accurately. Reality is there is limited latency over the interface, it's all up to the design of the mouse electronics.
The product webwit specified is really handy. I have a generic ebay knock off equivalent which works really well, so I imagine a proper brand name one should work particularly well also.