Just to update this thread, the best paper trading site that I have found is without question Think or Swim where you can find here..
thinkorswim Home - Stock Option Investing - Stock Option Trading - Online Trading Stocks and Options
Dave our resident moderator turned me onto this, as far as delay I believe it is less than a few minutes. When I use the prophet tool, it is delayed by 82 seconds which seems to be about par with the quotes and trading platform. Definitely recommended to newer traders such as myself or anyone else following the forum.