Ok, before delaying, the order of actions is: Bob, Jon, Ogre, Hobby, Goblin, Frank, Bob, Jon, Ogre, Hobby, Frank, Bob, Jon, Ogre, Hobby, Frank.
After delaying the order of actions is: Bob, Jon, Ogre, Hobby, Goblin, Frank, Bob, Jon, Ogre, Hobby, Frank, Bob, Jon, Ogre, Hobby, Frank.
Where is this advantage you speak of?
You obviously didn't read my example.
After delaying, the order, in Round 3 is:
Round 3. Frank attacks the Hobby.
Round 3. Bob attacks Ogre.
Round 3. Jon attacks Hobby.
Round 3. Ogre attacks Bob.
Round 3. Hobby attacks Jon
Frank, Bob, Jon, Ogre, Hobby.
All three PCs go before the monsters.
Had Frank not delayed, Round 3 would look like this:
Round 3. Bob attacks Ogre.
Round 3. Jon attacks Hobby.
Round 3. Ogre attacks Bob.
Round 3. Hobby attacks Jon
Round 3. Frank attacks the Hobby.
In which case, only Bob and Jon go before the monsters, and Frank goes last.
If you were Frank, low on hit points, would you want to go first or last?
But...you already answered that. You wanted to go first with your allies going first also. That's what happens once Frank Delays.
EDIT: Or, more simply...
Round 1, Frank goes after the monsters.
Round 2, Frank does not attack and is not attacked, but delays.
Round 3, Frank goes before the monsters.
That gives Frank an attack before and after the monsters in three rounds.
Originally, Frank would have both attacks after the monsters, as the combat would look like this:
Round 1, Frank goes after the monsters.
Round 2, Frank moves and attacks after the monsters.
Round 3, Frank attacks after the monsters.
Here, Frank is getting an extra attack, but he's also moving last in the round.
Let's say Frank is so wounded that one more attack would kill him. A player can't know that in a fight, but let's say that we do. You'd go for option A above, gaining the advantage, attacking before the monsters in order to kill them (so they can't attack Frank) instead of getting Frank killed with option B, right?
The Delay basically allows you to give up a round's worth of actions in order to gain an earlier place in the order of combat. This is not unlike giving up your Move action in order to take two attacks with a Full action.
You can't see that advantage?
2nd EDIT: I should point out that I do see your point as you are counting, over two rounds, how many times Frank gets to go before the first monster goes, and you're seeing the same number.
I do see your point, but I don't think you're seeing mine. Consider my example with more characters and more people Delaying. The round structure completely changes, and your argument falls apart (although it is sound when looking only at one person Delaying).
For example, you say:
After delaying the order of actions is: Bob, Jon, Ogre, Hobby, Goblin, Frank, Bob, Jon, Ogre, Hobby, Frank, Bob, Jon, Ogre, Hobby, Frank.
But, that's only because Frank delayed to the 1st in the round. What if he Delayed until after Jon went? The order of actions definitely changes.
Bob, Jon, Ogre, Hobby, Goblin, Frank, Bob, Jon, Ogre, Hobby, Frank, Bob, Jon, Ogre, Hobby, Frank.
Becomes...
Bob, Jon, Ogre, Hobby, Goblin, Frank, Bob, Jon, Ogre, Hobby, Bob, Jon, Frank, Ogre, Hobby.