  Theoretical analysis has long indicated that feedback improves the error
exponent but not the capacity of single-user memoryless channels. Recently
Polyanskiy et al. studied the benefit of variable-length feedback with
termination (VLFT) codes in the non-asymptotic regime. In that work,
achievability is based on an infinite length random code and decoding is
attempted at every symbol. The coding rate backoff from capacity due to channel
dispersion is greatly reduced with feedback, allowing capacity to be approached
with surprisingly small expected latency. This paper is mainly concerned with
VLFT codes based on finite-length codes and decoding attempts only at certain
specified decoding times. The penalties of using a finite block-length $N$ and
a sequence of specified decoding times are studied. This paper shows that
properly scaling $N$ with the expected latency can achieve the same performance
up to constant terms as with $N = \infty$. The penalty introduced by periodic
decoding times is a linear term of the interval between decoding times and
hence the performance approaches capacity as the expected latency grows if the
interval between decoding times grows sub-linearly with the expected latency.
