C#

class InstrumentThread {
 Thread t;
 public event EventHandler<InstrumentEventArgs> DataReceived;

 public Thread Thread { get { return t; } }
 
 public InstrumentThread(){
  t = new Thread(Run);
 }

 private void Run(){
  while(running){
   StartMeasurement();
   ReadData();
   DataReceived(new InstrumentDataEventArgs(data));
  }
 }
}

class InstrumentEventArgs : EventArgs {
 SomeType Data { get; private set; }
 public InstrumentEventArgs(SomeType data) { Data = data; }
}

class MyForm : Form {
 // ...

 public MyForm(){
  // ...

  it = new InstrumentThread();
  it.DataReceived += InstrumentDataReceived;
  it.Thread.Start();
 }

 void InstrumentDataReceived(object sender, InstrumentEventArgs ea){
  if(InvokeRequired) {
   BeginInvoke(new EventHandler<InstrumentEventArgs>(InstrumentDataReceived), new object[] { sender, ea });
   return;
  }

  // ... event handling here
 AddDataToGraphControl(ea.Data);
 }
}

NumericUpDown_VerticalRange_ValueChanges(Object sender, EventArgs e)
{
  this.InstrumentSetupChanged = true;
}

private void Run(){
  while(running){
   // check the InstrumentSetupChanged flag here, and update instrument hardware if flag is set. Clear flag afterwards (I don't know yet the best way to do this.)
   StartMeasurement();
   ReadData();
   DataReceived(new InstrumentDataEventArgs(data));
  }
 }