His test is about as close as you can get without a really complicated set of custom software. To do better, you'd need something to read the electrical signal as it is returned to the encoder, software to mark the time, and software/hardware to mark when it was output to the USB port. It would likely not be cheap.
His test is *extremly* problematic though. There's alot of room in there for major error, such as...
-How does the hardware he used process USB inputs on the same hub, is it queued? Random? I thought USB priority went to whichever port had the lowest ID when contention occurrs.
-The CPU is going to pick one of the inputs to process first, even if both arrived at the exact same ms. So his test is highly subjective since it's prey to the design of the PC's architecture.
-Worse, it's entirely possible that the PC might insert some other command for execution in between the two inputs, even if they arrived at the same time.
So while interesting, his test isn't valid, because he hasn't eliminated the architectural issues from the test. To actually test the latency of encoders will require hardware reading at the point of input and the point of output, otherwise alot of other variables are inserted into the test that are completely unknown.