diff --git a/ansible_mitogen/connection.py b/ansible_mitogen/connection.py
index 1231acb5..a043ef1d 100644
--- a/ansible_mitogen/connection.py
+++ b/ansible_mitogen/connection.py
@@ -933,31 +933,39 @@ class Connection(ansible.plugins.connection.ConnectionBase):
                 self.reset_compat_msg
             )
 
-        # Strategy's _execute_meta doesn't have an action obj but we'll need one for
-        # running interpreter_discovery
-        # will create a new temporary action obj for this purpose
-        self._action = ansible_mitogen.mixins.ActionModuleMixin(
-            task=0,
-            connection=self,
-            play_context=self._play_context,
-            loader=0,
-            templar=0,
-            shared_loader_obj=0
-        )
-
-        # Workaround for https://github.com/ansible/ansible/issues/84238
+        # Handle templated connection variables during `meta: reset_connection`.
+        # Many bugs/implementation details of Mitogen & Ansible collide here.
+        # See #1079, #1096, #1132, ansible/ansible#84238, ...
         try:
             task, templar = self._play_context.vars.pop(
                 '_mitogen.smuggled.reset_connection',
             )
         except KeyError:
-            pass
+            self._action_monkey_patched_by_mitogen = False
         else:
+            # LOG.info('%r.reset(): remote_addr=%r', self, self._play_context.remote_addr)
+            # ansible.plugins.strategy.StrategyBase._execute_meta() doesn't
+            # have an action object, which we need for interpreter_discovery.
+            # Create a temporary action object for this purpose.
+            self._action = ansible_mitogen.mixins.ActionModuleMixin(
+                task=task,
+                connection=self,
+                play_context=self._play_context,
+                loader=templar._loader,
+                templar=templar,
+                shared_loader_obj=0,
+            )
+            self._action_monkey_patched_by_mitogen = True
+
+            # Workaround for https://github.com/ansible/ansible/issues/84238
             self.set_options(
                 task_keys=task.dump_attrs(),
                 var_options=self._mitogen_var_options(templar),
             )
 
+            del task
+            del templar
+
         # Clear out state in case we were ever connected.
         self.close()
 
@@ -977,6 +985,11 @@ class Connection(ansible.plugins.connection.ConnectionBase):
         finally:
             binding.close()
 
+        # Cleanup any monkey patching we did for `meta: reset_connection`
+        if self._action_monkey_patched_by_mitogen:
+            del self._action
+        del self._action_monkey_patched_by_mitogen
+
     # Compatibility with Ansible 2.4 wait_for_connection plug-in.
     _reset = reset
 
diff --git a/docs/changelog.rst b/docs/changelog.rst
index d15a7b5c..0b83a04c 100644
--- a/docs/changelog.rst
+++ b/docs/changelog.rst
@@ -21,6 +21,8 @@ To avail of fixes in an unreleased version, please download a ZIP file
 In progress (unreleased)
 ------------------------
 
+* :gh:issue:`1079` :mod:`ansible_mitogen`: Fix :ans:mod:`wait_for_connection`
+  timeout with templated ``ansible_python_interpreter``
 
 
 v0.3.19 (2024-12-02)
diff --git a/tests/ansible/hosts/default.hosts b/tests/ansible/hosts/default.hosts
index 17d1fd6d..a232c6ab 100644
--- a/tests/ansible/hosts/default.hosts
+++ b/tests/ansible/hosts/default.hosts
@@ -19,6 +19,9 @@ ssh-common-args ansible_host=localhost ansible_user="{{ lookup('pipe', 'whoami')
 ansible_ssh_common_args=-o PermitLocalCommand=yes -o LocalCommand="touch {{ ssh_args_canary_file }}"
 ssh_args_canary_file=/tmp/ssh_args_by_inv_{{ inventory_hostname }}
 
+[issue1079]
+wait-for-connection ansible_host=localhost ansible_user="{{ lookup('pipe', 'whoami') }}"
+
 [tt_targets_bare]
 tt-bare
 
diff --git a/tests/ansible/regression/all.yml b/tests/ansible/regression/all.yml
index a4272805..a7c8033e 100644
--- a/tests/ansible/regression/all.yml
+++ b/tests/ansible/regression/all.yml
@@ -16,4 +16,5 @@
 - import_playbook: issue_776__load_plugins_called_twice.yml
 - import_playbook: issue_952__ask_become_pass.yml
 - import_playbook: issue_1066__add_host__host_key_checking.yml
+- import_playbook: issue_1079__wait_for_connection_timeout.yml
 - import_playbook: issue_1087__template_streamerror.yml
diff --git a/tests/ansible/regression/issue_1079__wait_for_connection_timeout.yml b/tests/ansible/regression/issue_1079__wait_for_connection_timeout.yml
new file mode 100644
index 00000000..2ff1899b
--- /dev/null
+++ b/tests/ansible/regression/issue_1079__wait_for_connection_timeout.yml
@@ -0,0 +1,10 @@
+- name: regression/issue_1079__wait_for_connection_timeout.yml
+  hosts: issue1079
+  gather_facts: false
+  tasks:
+    - name: Wait for connection at start of play
+      wait_for_connection:
+        timeout: 5
+  tags:
+    - issue_1079
+    - wait_for_connection
diff --git a/tests/ansible/templates/test-targets.j2 b/tests/ansible/templates/test-targets.j2
index bb0d85ec..87b0e7c9 100644
--- a/tests/ansible/templates/test-targets.j2
+++ b/tests/ansible/templates/test-targets.j2
@@ -40,6 +40,13 @@ ssh_args_canary_file=/tmp/ssh_args_by_inv_{{ '{{' }} inventory_hostname {{ '}}'
 
 {% set tt = containers[0] %}
 
+[issue1079]
+wait-for-connection ansible_host={{ tt.hostname }} ansible_port={{ tt.port }} ansible_python_interpreter="{{ '{{' }} '{{ tt.python_path }}' | trim {{ '}}' }}"
+
+[issue1079:vars]
+ansible_user=mitogen__has_sudo_nopw
+ansible_password=has_sudo_nopw_password
+
 [tt_targets_bare]
 tt-bare