A method of and system for determining the time required for a digital bit or bit stream to traverse a round-trip path from a source transceiver to at least one destination transceiver and back is disclosed. The relative timing of the transmitted bit or bit stream is compared to the return bit or bit stream using a high speed comparison configuration so as to provide in substantially real-time various measurements related to or derived from the time required to traverse the round trip path, including distance measurement in indoor positioning, real-time locating, adaptive cruise control, intelligent transportation systems, robotics, collision avoidance, personnel accountability, emergency location, search and rescue, loss and theft prevention, logistics, marine safety, network analysis, communication channel characterization, and other high-speed measurement tasks. In addition, a method of and system for determining the distance between a source transceiver and a destination transceiver, and a method of and system for determining the angular position of a transceiver with respect to at least two other transceivers, are disclosed.