Yes, the FLOW PIN is automatically taken care of if used, but we do not need it for what we are doing. It is an option only.
Also what's a reasonable 'Timeout' period in milliseconds for this?
That depends on the whole setup for what you intend to do. For these test with keyboard/PC entry 500+ might be a good place to start. If you are connected to something like a GPS that continuously sends data and depending on what else the program does 100 may be what works.