The effect on delay is applied in the same way as Haste (not in a separate stage like for Dual Wield).
Although equivalent to Haste, it does not fall under the equipment or magical haste caps and is only limited by the 80% total haste cap.
The maximum amount of haste gained in this merit is 25%
Capped merits in desperate blows(or Lvl 3 desperate blows + hasso with samurai support job) + white mage haste spell = 40% haste. This plus haste gear is a good strategy for "zerg tactic" on many Dark Knights.
Hasso will not add any more haste with lv 5 Desperate Blows as Job Ability Haste caps at 25% the same as equipment haste. i.e., you only need lv 3 Desperate Blows + Hasso to cap on Job Ability Haste.