The real answer is "yes" - with the right code.
I just posted some code on NI Community that I recently developed to connect to a mySQL database that uses native LabVIEW all the way to the TCP/IP calls. This was specifically meant for RT targets.
I have not had time to do much testing (especially on RT targets) and your post made me decide to just put up the code in its current state. So your feedback would be very helpful.