1) For a short answer I would say no, not really but a standard timer interrupt can easily be used (which then obviously uses a combination of hardware (the timer) and software (the interrupt service routine). For a 100% hardare solution, I guess it depends on which PIC you're using and what features/peripherals it's got. It's possible that it's doable by combining for example the special event triggers and/or the configurable logic cell available on some devices but I haven't looked into it so I can't say for sure if it's possible or not.

2) Sure, no problems with that.

/Henrik.