I've only had it used against me one or two times but it's really not that damaging. In fact, it can be pretty advantageous (in a Bronzong deck, for example, or with Archie's as Yo-yos and fr33land mentioned). Because you get to choose what's going to the discard, it only REALLY matters when you have only 3 cards -- this way, the opponent takes away both your cards AND your ability to minimize the damage. It's not uncommon to have a VS Seeker or a Sycamore in your hand, so it's not that bad tbh.
Also yeah I dunno about the Unknown trick Camoclone mentioned. That's a lot of bench space for not that much draw support. Octillery on the other hand, is perfect as it's reusable and just all around decent (I won't say good yet
I haven't used it enough). With Unknown you'd have to worry about offering those prizes and Parallel City. Etc.
Anyway, I think it's going to be a good card, no doubt, but overall I think Delinquent is gonna be kind of a dud. /end useless crystal ball gazing