I can see O'Leary getting the job. He's been quiet lately (unlike El Tel and, Lord have mercy, Howard Kendall) and it will give Delaney the opportunity to gather a press conference and say 'We have a manager with Premier League experience, who has managed a team in the Champions League semi-finals, and who is Irish. A world class management team!'
Even Delaney must know the extent of public feeling against Venables, he's not smart enough to get Hodgson, Houllier is out of the question now, Kendall is a non-starter (please God)...from his point of view, the options are running out. If Delaney gets O'Leary in, and he fails, he can say to the press 'I got a manager with top class experience and he let us down' whereas if he succeeds he can claim the credit for the appointment. Maybe the die-hard fans, like on here, will disagree, but the public will buy it, and that makes it win-win for Delaney. And as we all know, that is all that matters.
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