I'm surprised that nobody mention the problem with multiple input in CMS's very nice snipped.
Basically, you would have to define delay variable individually for each input. Otherwise if sb put text to first input and quickly jump to other input and start typing, callback for the first one WON'T be called!
See the code below I came with based on other answers:
(function($) {
/**
* KeyUp with delay event setup
*
* @link http://stackoverflow.com/questions/1909441/jquery-keyup-delay#answer-12581187
* @param function callback
* @param int ms
*/
$.fn.delayKeyup = function(callback, ms){
$(this).keyup(function( event ){
var srcEl = event.currentTarget;
if( srcEl.delayTimer )
clearTimeout (srcEl.delayTimer );
srcEl.delayTimer = setTimeout(function(){ callback( $(srcEl) ); }, ms);
});
return $(this);
};
})(jQuery);
This solution keeps setTimeout reference within input's delayTimer variable. It also passes reference of element to callback as fazzyx suggested.
Tested in IE6, 8(comp - 7), 8 and Opera 12.11.