Meaning a person of high rank or distinction is attested from c.1500 in English; as a longer way to say person, the word was in use from 1550s (but often slyly ironical, with suggestion that the subject is overly self-important).
If your system is standalone, the default sync interval for system time is 604800 seconds (7 days). If you are in a domain environment, the default sync interval is 3600 seconds (0.04166667 days). If you are using XP Pro, you can adjust your settings using Group Policy editor (GPedit - Administrative Templates\System\Windows Time Service\Time Providers) or you can adjust things through a registry edit (works for any version of XP).
What is timecode sync? Timecode is an important form of production metadata, which if used correctly can save productions time and money. The theory is simple. Each frame recorded is assigned a specific timecode, allowing editors to find a particular frame across multiple camera and audio sources by referencing this number. If each camera and audio device on a shoot is running timecode, this allows all sources to be synced and the data can then easily be dropped into the edit timeline and automatically aligned.