EC2 ELB AWS Rate Limit Issue

When dealing with large enough number of ELBs registration will throw a rate limit exceeded failure.
Boto doesn't seem to retry, which leads to the failure of the entire task.

My particular situation involved 7 ec2 instances and 34 ELBs.

To combat this I stopped registration calls for instances already "InService" and added a rate limit sleep of 1 second.