how to do some processing at set time intervals

Or a more noob-coder-friendly way:

Local myTimer:TTimer = CreateTimer(1)

While (Not KeyDown(KEY_ESCAPE)) And (Not AppTerminate())
	If myTimer.Ticks()
		Print "Timer ticked at " + MilliSecs() + " ms!"
		myTimer._Ticks = 0'reset timer tick counter
	EndIf
	Delay 1
Wend