Your right. There will be a huge latency spike when the out list needs to be refilled.
My throughput benchmark does take this into account though. It attempts to add 100,000 events to a window that only keeps events for 10 seconds. Adding 100,000 events takes much longer than 10 seconds, so the out list will be repopulated a couple times before the test is complete. The throughput benchmark is only an average though... And a longer running throughput test would yield a more accurate average.
I will update the post with this information.