Limiting frame rate sucks, it's a bad thing to do as it greatly reduces the quality of your game.
That being said, there's a few things to consider:
1. If you cap your frame rate, what happens if the game dips below that frame rate? The cap is 100% useless if the computer cannot maintain that frame rate.
2. What happens if the frame rate is too high? What happens if the frame rate is 1000 or 10000 and the TBM corrections are making movements per frame so small that they are rounded to 0? Or have other CPU math rounding errors?
You can get situations where your game glitches out or locks up and you tear your hair out wondering why. Consumer CPU's cannot handle very small numbers properly and begin rounding them even though they can store many more decimal places.
So in an actual finished video game product you should have some upper limit that the player can set for frame rate. An ini file that simply enables the frame limiter, and it's limit might be all you need.
3. Consider the concept of modern mobile computing. If I am running a laptop or a tablet then battery life is important. A CPU/GPU friendly frame limiter is often an obvious thing. If your game runs well at 30fps, what good is it for me to run the game at maximum achievable frame rate, sucking all available resources, for only 10 minutes as the battery depletes?
If I can hit 30 or 60 fps with only 1% CPU usage, then why have the game use 100% CPU anyway? For a mobile user, or anyone with a noisy computer fan this makes no sense.
Here's an example of a CPU friendly limiter:
http://forum.thegamecreators.com/?m=forum_view&t=202812&b=1