This is a great idea, the more that I see things like this out their I get really jazzed. I am going to do a Triathlon in June that is going to use this technology so I will give you first hand information.
The world's leading timing technology for active sports events
In many sports events people compete, with one another, with themselves and with time. For active sports events the ChampionChip company has revolutionized timing. In 1994 the company introduced an automatic timing system, which can not only time the finish but also split and start times. This made net times for every individual athlete possible.