Rod,

 

Some of them are.

 

EmailA (local) -> EmailB(Local) -> EmailC(Exchange server)

 

We had this same config setup on our old mail server and never had any type of delay, but every time with SmarterMail we see those messages get a delay.  In the spool it shows waiting and once the retry timer ends they go through.  On the Exchange side we aren't seeing an attempt until the retry timer ends, so the second forward isn't even being attempted yet.