Chris,
A PCI-6602 should definitely be able to handle continuous pulse generation. Just as a side note though, I would recommend using timing and error checking inside your while loops. This will help to free up your processor resources. I modified your code slightly and attached it to this post.
The error 50103 will occur if another program (perhaps even Measurement and Automation Explorer Test Panel) is running in the background. Please be sure this is not the case. The error could also occur if you are trying to run a DAQmx application after a Traditional DAQ application without first resetting the Traditional DAQ drivers.
KB: Error 50103 at DAQmx Start TaskThe code that I attached works with my PCI-6602 so I would expect it to work with yours as well. If you are still getting the error after considering my suggestions then please respond to this post and we can continue working on this issue.
Best Regards,
Jeff Tipps
Applications Engineer
National Instruments