Even though the story involves drum memory instead, your mention of delay-lines reminds me of The Story of Mel, a Real Programmer. Y'all should read the whole thing (it's not long), but here's a quick excerpt:

 Mel's job was to re-write
 the blackjack program for the RPC-4000.
 (Port?  What does that mean?)
 The new computer had a one-plus-one
 addressing scheme,
 in which each machine instruction,
 in addition to the operation code
 and the address of the needed operand,
 had a second address that indicated where, on the revolving drum,
 the next instruction was located.

 In modern parlance,
 every single instruction was followed by a GO TO!
 Put *that* in Pascal's pipe and smoke it.

 Mel loved the RPC-4000
 because he could optimize his code:
 that is, locate instructions on the drum
 so that just as one finished its job,
 the next would be just arriving at the "read head"
 and available for immediate execution.
 There was a program to do that job,
 an "optimizing assembler",
 but Mel refused to use it.

They use to have weaving grannies for the magnetic core memory production.