I have been wondering the same thing lately, this Knowledge Base article sheds some light on it.
Knowledge Base
Second Life Info > Solution Finder > Technical Issue > Statistics Bar Guide
https://support.secondlife.com/ics/support/KBAnswer.asp?questionID=4004I'm no expert but these three measurements seem to be the most significant.
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* Time Dilation - The physics simulation rate relative to realtime. 1.0 means that the simulator is running at full speed; 0.5 means that physics are running at half-speed.
* Sim FPS - The simulator frame rate. This should now always be the same as the physics frame rate -- 45.0 when things are running well.
* Physics FPS - The frame rate at which the physics engine is running. This should normally be at or near 45.0.
Time
The following are the different times listed in the Time section of the Statistics bar. Click Time to hide or display this panel.
Total Frame Time – The sum of all time values listed below it, this measures how much time it takes the simulator to run everything that the simulator is trying to do each frame.
< 22 ms - The simulator is healthy, everything is running as fast as it can, and more scripts can be added without reducing the performance of individual scripts.
approx. 22 ms - The simulator is healthy, but there are probably a lot of scripts and agents on the simulator, meaning that script execution is being slowed down in order to maintain the simulator frame rate.
> 22 ms - The simulator is experiencing severe load, either due to physics or a large number of agents, such that even by slowing down script execution it is impossible to compensate. The simulator frame rate has been reduced as a result.
Net Time - The amount of time spent responding to incoming network data.
Sim Time (Physics) - The amount of time that frame spent running physics simulations. In general, this should be less than 5 milliseconds.
Sim Time (Other) - The amount of time that frame spent running other simulations (agent movement, weather simulation, etc.)
Agent Time - The amount of time spent updating and transmitting object data to the agents.
Images Time - The amount of time spent updating and transmitting image data to the agents.
Script Time - The amount of time spent running scripts.
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From: someone
Typically, from what I've seen, on this sim there are 435-455 scripts running with an overall time of 3.4ms, although I have seen this spike on occasion to over 5.
As I recall, my mainland sim has over 2800 scripts running, 18.5 ms Script Time, 22.2ms total frame rate. This sim is a pretty peaceful place with relatively little lag from what I have experienced in SL.
So, if a total run time of < 22 MS for everything in a sim is good, then 3.4ms for all scripts does not sound all that bad to me.