GPU Latency
This category is new to r59097, and will be in Blender 2.69. This category represents the time spent waiting on the GPU. This category used to be entirely within the Rasterizer category, so the same tips from there apply to this category. However, time spent waiting for vsync will show up here now instead of in the Rasterizer category. Also, this category is a bit different from other categories in that it is idle time (the CPU is just waiting on the GPU). This means this is time that can be used by the CPU (e.g., physics, animations, logic, etc.) without affecting the framerate. This also means that if the GPU Latency is high, trying to optimize CPU time is pointless as it will, also, not affect the framerate. If this value is low, it is still possible to be GPU bound. Various OpenGL calls (usually some form of glGet) can cause a sync event in which the CPU has to wait on the GPU. These sync events can cause odd profiler readings depending on which part of the codebase they occur in. For example, if overhead is suddenly taking up a large amount of time, odds are that the font rendering triggered a sync.
I hope people find this useful.
Cheers,
Moguri