The sort of thing Atari used for their "paddle" controllers (like Pong had), if I remember right.
I see there is some jitter. :) I think I remember reading of this jitter in Atari's documentation, but it was a long time ago. It would be less important with a faster clock and larger counter, (as Ataris had,) but that would slow down the simulation; it would take ages to complete each frame.
(I don't think I wired up the load and reset signals in the best way, but I'm too tired to think of it now.)
