But if your script had 1% of CPU, that 150ms workload would take 15s to complete. Then the next workload would be late in the same way and take 50s to complete.
It depends on what you're doing. If you split up tasks and interleaves them (such as: process a few items, stop, set another timer, process a few more), actual CPU% throttling would be better. It would be easier to have certain timers take priority, such as heartbeat responses or notifications.