The main problem with that lib (if it is the one i'm thinking of) is the sync comms implemented via sleeps and yes you can sleep for longer than necessary. Is it socket based? I forget but on some (all?) CE devices you can't sync send with a timeout which means you write code that can hang (no timeout) so sleeps are actually the better bet in this scenario!!!???!!!.
I did ground-up rewrite this lib to be async but the client on that one wouldn't allow me to contribute the code back. :(
If it is the one with the source up on the open net cf forums then just grab the code and reduce the sleeps if your network is teh awesomes, the issue with this kind of solution is that you might "miss" a success if your sleep is too short or the network gets a little clogged up as you didn't wait long enough before touching your receive buffer.
Failing that rewrite with async or look elsewhere!