Also, 16ms per frame is when your waiting for vsync, so it's wasted time. If I turn the flip wait off and frame limit to 60, then I have an extra 16ms to use at my disposal.
I don't follow. 1s/60fps = 16.67ms each frames. Vsyncing or not, that's all the time you get if you want to keep your game running at 60fps, and I wouldn't consider it wasted - you're likely going to have a lot more things you're going to want to do per frame unless this is just a cloud demo.
That said, premature optimization is the root of all evil.