Guile + Delay?

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What happens?
Guile's ability creates a replacement effect. When delay goes to counter a spell, guile replaces the countering with "remove that spell from the game and you may play that card without paying its mana cost." Because it is a replacement effect, the spell is never actually countered. As such, the " If the spell is countered this way" part is not true, so the "remove it from the game with three time counters on it instead of putting it into its owner's graveyard" part never happens.
Guile replaces the action of Countering.

Thus, the Spell is not "countered this way" and Delay's RFG w/ time counters effect is not applicable.
As I thought. So that's a useful way to activate that ability for cheaper. Thanks.
Technically, the "If the spell is countered this way..." is a self-replacement effect, and is applied before Guile even gets a chance to apply. But since Guile still applies anyway (since the spell is still being countered), it doesn't really matter.