"Should I disable.."
Just disable it.
Since you wont be asking if you are not poking around with the startup options..
"What could be the consequences if I disable this program?"
Just FYI, in my case it doesn't move a thing.. I didn't notice any significant performance improvement either. I don't know if that's the case for others.
"why does it need to add a "Delayed Launcher" program at startup. "
On this part I really don't know why Intel do it.. IMHO, If it is up to me.. I would do the same to my startup sequence.. I DO want my windows component to properly loads first.. then only other background application.. except for antivirus, where I think the earlier the better.
Hope this helps in any ways possible. ( :