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We present three complete seasons and two half-seasons of Sloan Digital Sky Survey (SDSS) r-band photometry of the gravitationally lensed quasar SBS 0909+532 from the U.S. Naval Observatory, as well as two seasons each of SDSS g-band and r-band monitoring from the Liverpool Robotic Telescope. Using Monte Carlo simulations to simultaneously measure the system s time delay and model the r-band microlensing variability, we confirm and significantly refine the precision of the system s time delay to DeltatAB = 50+2 4 days, where the stated uncertainties represent the bounds of the formal 1 sigma confidence interval. There may be a conflict between the time delay measurement and a lens consisting of a single galaxy. While models based on the Hubble Space Telescope astrometry and a relatively compact stellar distribution can reproduce the observed delay, the models have somewhat less dark matter than we would typically expect. We also carry out a joint analysis of the microlensing variability in the r and g bands to constrain the size of the quasar s continuum source at these wavelengths, obtaining log{(rs,r/cm)[cos i/0.5]1/2} = 15.3 plus or minus 0.3 and log{(rs,g/cm)[cos i/0.5]1/2} = 14.8 plus or minus 0.9, respectively. Our current results do not formally constrain the temperature profile of the accretion disk but are consistent with the expectations of standard thin disk theory., Published in The Astrophysical Journal, v774 n69 11p, 1 September 2013. The original document contains color images.