Game Performance Question

How taxing is time based calculation versus frame by frame? Should I do 32ms, 40ms? Would 10ms slow things down at 100 non-filtered vector instances with movements?

Also, wouldn’t it be more efficient to have one global timer that all classes can listen to, instead of a timer on each player like here? Like, have a “gameworld” class that controls everything.

package {
import flash.display.MovieClip;
import flash.utils.Timer;

public class player extends MovieClip {
    public function player() {
        var timer:Timer = new Timer(32);
        timer.addEventListener(TimerEvent.TIMER, onTimer);
    private function onTimer(event:TimerEvent):void {

//Gameplay calculations here