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Good!

I don't think there's a standard definition of timers --
I've seen both.  A more general timer that can go off N
times, defaulting to once, sounds like a nice API.

Hm, I can actually only think of two usage scenarios: either
you want it to go off once, or you want it to repeat until
you cancel it.  Think about it.

There's also the msg from Aahz in the python-dev list where
he claims he doesn't like something about this without
saying what.  I hope he clarifies that in this SF tracker
item.