>>Yes, check DATETIME2 type in BOL
>
>Ok, I see that one goes up to 1/1000000th of a second. I am impressed.
>
>However, when I update a record, from VB.NET, it does not seem to be handle to go further than 1/1000th of a second. Is this supported at VB.NET? I am also interested to hear about performance issue as to know if this is a good. Then, would it be better to simply update our tables to use that type now?

I suspect it should work from VB.NET fine, you need to run Google search for this. If you want to have high precision of datetime values, then of course, updating datetime to datetime2(7) sounds like a good plan.