  The spiking properties of a subcritical Hopf oscillator with a time delayed
nonlinear feedback is investigated. Finite time delay is found to significantly
affect both the statistics and the fine structure of the spiking behavior.
These dynamical changes are explained in terms of the fundamental modifications
occurring in the bifurcation scenario of the system. Our mathematical model can
find useful applications in understanding the dynamical behaviour of various
real life excitable systems where propagation delay effects are ubiquitous.
