[MERGE] Use 1 second main loop timeout by default

At the sprint the issue about our current 10ms main loop timeout came
up, and it was suggested the problem most likely have been fixed in
HEAD. And even if it hasn't been fixed it's something which should be
fixed rather than plastered over by spinning around on a short timeout
when there is no activity..

This merge request backs out the change to revert the change..

Alex commit reversing the change said:

revno: 8332
committer: rousskov
branch nick: HEAD
timestamp: Tue 2007-07-24 01:55:21 +0000
message:
  Reversed bug #2011 fix because it may slow down ICAP, BodyPipe, and other code
  using zero-delay events to implement "asynchronous" calls.
  
  The code should probably be rewritten (a) to avoid any waiting/blocking when
  there are ready events and (b) to allow waiting longer when there are no ready
  events.

Regards
Henrik