It's more a burst-mode and averaging analyzer like the HP 5371/5372. But it can do sustained time interval measurements if you mess around enough with the settings. And the resolution is down in the very low picoseconds.
But it's big, awkwardly shaped, and has a jet turbine fan.
All of what John says is spot on. It's beastly heavy, too.
One rather important thing I'd add -- make sure it comes with (or you
have access to) the Wavecrest software. The instrument by itself is
close to brain-dead without it -- only a small subset of the most basic
functions is available in manual/local mode.
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