First off I can't see how this will produce any "delay" on a non-quantum scale.

Secondly, while the set-up will work effectively to allow you to choose cross-over points for all of your surrounds, what are you planning to do with the filtered-out bass? Bass Management means re-directing the base somewhere - not eliminating it altogether. With nothing but surrounds connected to the ICBM it has nowhere to go. Were you perhaps planning to connect a sub to one of the ICBM's sub outputs?

Regards.

Jeff Mackwood