Sure, but it is kind of abstract these days. We don't design with schematics any more. Heck, the compilers don't let us do some obvious things, or seem to know what we want better than we do.
Prop delay on-chip is usually dominated by resistance and capacitance. I *wish* I could use an FPGA whose speed was limited by c. Imagine 3 ps delay between input and output on adjacent balls.