Colins gimmick is hes the local kid whose dream was to be a WWE wrestler. Great mic and in-ring skills arent required for the role he was given. And with his size, timid demeanor, and determination, hes played the part perfectly.
As far as mic skills go, Ive heard worse (recently Tony Atlas comes to mind) and Ive never noticed a lisp. And I dont recall him ever uttering more than five sentences in any segment. So you can take comfort that his mic time is limited.
I dont think its fair to say the guy has absolutely no in-ring talent. The problem is that we don't get to see much of any offense from him because of his character. The few matches hes actually got in some offense (for example, when teaming with Dreamer against Miz and Morrison and in singles action against Chavo) were actually pretty entertaining. And ss others have said, Colins job is to get squashed and make his opponents look good. The kid sure can bump and he sells. My favorite Kozlov squash involved Delaney.
A lot of people on here (not saying I agree/disagree) think that the Great Khali is crap, has no mic skills, limited moveset, cant sell, etc. Yet Khali is used and pushed for his size. Its the same thing with Delaney but in reverse. Personally I think its refreshing to see someone who doesnt possess a freakish physique get a push even if its only as a jobber.
Most importantly, Tommy Dreamers received a push by extension of Colins push. It's worked well pairing Dreamer who's known as the heart and soul of the original ECW with Delaney who represents the get knocked down-get back up, never quit, keep hope alive, live your dream mentality of the new ECW, which is supposed to be for pushing young guys anyway. Since becoming Delaneys mentor, Dreamers gotten more TV time, had a handful of ECW main-event matches, was in the ONS Singapore Cane match, and has a PPV title match this Sunday. Sure hes still jobbing, but at least Dreamer is relevant to the brand again.