FYI - There is one major drawback with
wait. Whilst
waiting, the PC will not accept any other keyboard input, meaning if you use them in a script you will be 'locked' out of doing anything else until it is finished!
See for example (in multiplayer) this 'discosaber' script:
bind X "set color1 0; wait; wait; wait; set color1 1; wait; wait; wait; set color1 2; wait; wait; wait; set color1 3; wait; wait; wait; set color1 4; wait; wait; wait; set color1 5; wait; wait; wait"
Now ingame, hold down 'X' and your lightsaber will cycle through the available colors over and over again.
But... release 'X' after a few seconds and all those other queued 'X's will all have to run, before you can use any other keyboard command.