I think this is a great idea! While I've learned to get around this using catchup, and while I set my delays by ear, this would be extremely helpful when I'm making hardcopy backups of my presets.
How about 1/2 second delay? I think that wouldn't be too short to use, but allow adjustments faster than a one second delay would (which might seem like forever when you want to adjust the knob).
+1 on jec15's response… summed it up nicely!
+1 on the knob lock, too.