Yes, it is typically a couple of seconds delay on the CableCard based solutions (HD HomeRun Prime, Centon, etc.). There is a delay on the other options as well (Hauppauge Colossus, etc) as the set top boxes have a delay themselves, and they can not tune faster than the set top box can do so and send the signal...
Personally I own a Hauppauge HD-PVR, which is very similar to the Colossus, just in external form and without HDMI input. I have been considering changing to the Colossus as well as picking up a Centon or HD HomeRun Prime. My issue with the cablecard solutions is the restrictions on the recorded video (i.e. DRM). I do not have any DRM with my HD-PVR, and I am free to copy, transcode, edit, whatever the hell I want to the recording as I feel like. The Centon recordings on-the-other-hand are encrypted, can not be converted to a different file format/transcoded for a different playback device, can not be transferred to another PC, etc., unless the cable company has the copy freely flag set on the channel/show (and they can and will do it on a show-by-show basis).
Note that the Colossus can only record un-encrypted HDMI feeds. All set top boxes that I know of use the encryption on HDMI, so you can not record via that method and record using the component connections like the HD-PVR users do.