IPS (Inch per second) – Some mice have a track record of how fast they can track in 1 second. 360 ips means that the mouse can still track when you pull the mouse at a speed of 30 feet in one second.
Polling Rate – You can call this report rate, Response rate as you like. The unit will change. If the polling rate is 1000Hz, the report rate is 1ms. What does this guy look like? The number of times you report to your computer in a second. At 1000hz (1ms), it reports to the desktop 1000 times in a second. 1000 is pretty good.