peekevent + waittimer = ???

I do something like this:

CreateTimer(60)
InitGui()
InitGame()

Repeat
	Select WaitEvent()
		Case $803 : End
		; other cases here (input, etc)
		Case $4001
			Logic()
			Update()
			Render()
	End Select
Forever

You can even enclose the Select WaitEvent() block in a Select GameState block, along with more Select WaitEvent() blocks for other states. Unless your logic/rendering takes more than 1/60th of a second, it will run smooth, and no faster than 60 hertz.