I am no expert I just like to talk
. From my little time (737,320-1), no problems at all in your scenario. If you are allowed to keep 250 in continuos descent down to intermediate APCH altitude and decelerate in level flight, this would be even "unnecessary" low. For continuous descent and deceleration, I find it is just about the perfect figure. On the other hand if you have 270 kt and are asked to slow say 220 at 25 DME, there may be only little room to play with but upon slowing down, selecting the first flap setting did work just fine for me.
Cheers,
FD
(the un-real)