IMO this card fits well at the 2 mana cost counters slot. I think the new "order of playbility" will be Mana Drain>Delay>Remand>Rune Snag>Mana Leak. A simple glance at the facts proves that if you want a counter at 2, this is better than Drain if you can't afford UU in your deck. (Much like mana leak used to be) Since Remand seems to be the next closest I'm going to examine similarities and differences.
Similarities:
1. Both counter a spell.
2. Both are soft counters.
3. Both delay the spell from being played.
4. Both can protect Tendrils. (Delay Tendrils then 3 turns later with suspend on the stack play whatever spells you can)
Delay>Remand:
1. It gives you 3 turns instead of 1. (At best)
2. Is a hard counter against certain spells. (Counters, conditional cards, etc.)
3. Allows you to get a total of 2-3 cards before suspend wears off. (Remand is 1-2)
Remand>Delay:
1. Cantrips instantly.
2. Makes them pay mana for the spell that comes back.
3. Good at making storm.
I play control decks, so of course I am inclined to say Delay is better because in the decks I play the advantages of Delay are better than the advantages of Remand. However, a combo player (like kobefan) seems to be inclined that Remand is better. Both cards are great, but we can all agree that there are enough counters (FoW/MisD/Daze/Drain/Duress/REBs) to keep Remand/Delay/Snag out of most decks.
As to this vs. Mana Leak, the only deck that would take Leak/Snag>Delay is Fish, because in those 3 turns you get there is rarely the opportunity to blow out and win. (Since we are assuming the Fish player kept 1U open for a few turns)
In the end this issue won't be settled. The card will be played by some, dismissed by others. Just like the Gifts vs. Intuition debate. Both are great cards, neither is
clearly better than the other. Both are played. In the end those with Intuition are happy and those with Gifts are happy(er

).

As for the Flashback question, the way suspend is worded I would assume it gets countered, is removed from the game, gets the counters, three turns later it goes on the stack, resolves then goes back to the graveyard because it was still played as a regular spell in this instance. Suspend is like playing a spell normally, except you don't pay the mana cost. Should I be wrong correct me.
