I would recommend still using a DateTime data type and ignoring the date values--ideally using the static MinDate for SQL (Google it). This will give you the benefits of working with a strongly typed field and the only cost will be a few extra bytes.
As for ranges, store them in two separate columns. Then you can subtract one from the other to determine the difference.
Edit: did some Googling.
- SQL Server 2008 adds a Time data type, so you might want to consider that.
- You can use SQL 2005's DateTime type and combine it with the CONVERT function to extract just the HH:MM:SS.MMM
- Different SQL versions support different minimum dates. You could use a static date that will be supported by all such as 1/1/2000, or you could use SQL 2005's minimum value of 1/1/1753 and append the time values to that startic day
So if you stick with 2005, pick your static date, like 1/1/2000, and store your times on it. So 1m:30s would be 2000-1-1 00:01:30.000, and 1h:15m would be 2000-1-1 01:15:00.000
You can then do Date2 - Date1 and get your result of (1h:15:m - 1m:30s) 2000-01-01 01:13:45.000. CONVERT it and you'll have 1:13:45.