Back to the topic. Dejavu is on target with alot of points. Due to my profession, I have watched a few bomb drops. I also understand the theory behind the two types of delays (time to arm, and detonation delay) with mechanical fuzes (neither of which is modeled in AH)
Time to arm is just that, when the bomb is released a wire is pulled from the vane on the fuze. The setting is set in seconds. Depending on the type of mission (ie alt of drop, angle of attack, whether its a level attack or not) the desired setting is set.
Delays in detonation are used for a variety of targets. Underground bunkers, tunnels, large buildings, hardened AC shelters are all good candidates for some type of detobnation delay. The idea is for the bomb to penetrate deep into the heart of the target before exploding, causing more damage. Bomb design has alot to do with the effectiveness of this type of attack. Most bombs simply crush themselves upon impact and will not go deep enough for the deeper bunkers. We use bombs like the BLU-29 and the GBU-28 which are steel adn with thich sleek nose cones to get deep in todays times. (even with them delays will never be seen more than 2 seconds, 11 seconds is impractical. Most delays are set at much less than a second for all practical purposes).
Once in Avon Park, Fla, I watched several F-16's from Homestead AFB drop dummy 500 pounders from a distance. I witnessed a bomb enter the ground and then exit terra firma within a seconds timeframe more than 100 feet from impact point. I was thoroughly impressed. I also saw firsthand what our little 25 lb steel practice bombs could do. Clean through an old armored troop transport left there as a target.
The thing that would be usefull in AH would be to model retarded delivery bombs. that would allow you to get away from the target, and would also require some finesse on te part of the pilot.