The one flaw in that approach is that the "real" time doSomething() takes to execute can vary wildly depending on what other programs are running on the system and what its load is. This makes the performance measurement somewhat imprecise.
One more accurate way of tracking the time it takes to execute code, assuming the code is single-threaded, is to look at the CPU time consumed by the thread during the call. You can do this with the JMX classes; in particular, with ThreadMXBean. You can retrieve an instance of ThreadMXBean from java.lang.management.ManagementFactory, and, if your platform supports it (most do), use the getCurrentThreadCpuTime method in place of System.currentTimeMillis to do a similar test. Bear in mind that getCurrentThreadCpuTime reports time in nanoseconds, not milliseconds.
This method isn't perfect, but is less subject to variations in system load.