I'm a beginner when it comes to scripting, and I'd noticed someone saying that in game terms, 40 cycles is one second. Does that mean that the bigger repeatedly_execute is (that is, the more lines of things it has to do), the longer it'll take beween each repetition of its contents?
Hopefully I've been clear enough about that.
Nope it shouldn't, as the game engine cycles are defined in the AGS runtime, not the scripting language. That being said.. if you stuff 30,000 lines of code in there I'm sure you'll see some slowdown, but with normal game scripting it shouldn't have any noteworthy impact.
AGS is very fast, repeatedly_execute is simply called 40 times per second (or 30 or 60 times, depending on the game speed setting) but one call will usually only take a few fractions of a millisecond.
Some operations like drawing loads of triangles or similar stuff will cause heavy slowdown, though.