Yes it would be subject to the same 'delay'.
The delay you know of is simply the lack of skill queue. When you press a skill on your hotbar it's queued up in an invisible queue as your current action finishes. This allows a mostly seamless transition from one attack to the next, this includes oGCDs as well. Macros cannot use this queue at all. So any macro, no matter what's in it, will not properly activate a skill if you hit it too early. You have to wait for the current action to complete before it can be used, and as such, even if your macro contains only one skill you'll see a small gap in the smoothness of gameplay.

That being said, most non-magic attacks will already activate auto attack for you. There is no need to manually execute that command if you'll be attacking anyway.