Transaction level models (TLMs) can be constructed at t levels of abstraction, denoted as untimed (UT), cycle-approximate (CX), and cycle accurate (CA) in this paper. The choice of a level has an impact on simulation accuracy and performance and makes a level suitable for specific use cases, e.g. virtual prototyping, architectural exploration, and verification. Whereas the untimed and cycle-accurate levels have a relatively precise definition, cycle-approximate spans a wide space of modelling alternatives between UT and CA, which makes it a class of levels rather than a single level. In this contribution we review these modelling alternatives in the context of SystemC and with focus on bus models, provide quantitative measurements on major alternatives, and propose a CX modelling level that allows to obtain almost cycle accuracy and a simulation performance significantly above CA models.