This version of the applet creates delay by running a time-killing loop. On some computers, this will animate about the same speed as the other versions, on others it will animate several times faster, and on others it will animate quite a bit slower. Do things that take up CPU time (everything from hitting the start menu button to starting up netscape) and watch it slow down and speed up. The other disadvantage is just the CPU time it's using- if you're using Windows 2000, bring up the task manager and click on the "Performance" tab. You'll notice that 100% of your CPU time is being used up. Not usually a good thing. It also may slow things down for awhile even after you leave the page or close the browser window. The other thing that makes this method undesirable is that you can't call any other methods (at least I have yet to be successful). This applet has all the code to catch and move the letters, but if you try to do it, you'll be dissapointed.
The only advantage to this one is how easy it is to write- I just have something like the following in my paint() method:
while (true) //infinite loop created
page.fillRect(0,0,300,300); //draw a black square to blank the screen
. //code for painting and changes for animation
for (i=0; i<80000000; i++); //killing time, but also processor power