The current standard time delay formula (CSTD) in gravitational lensing and
its claimed relation to the lens equation through Fermat's principle (least
time principle) have been puzzling to the author for some time. We find that
the so-called geometric path difference term of the CSTD is an error, and it
causes a double counting of the correct time delay. We examined the deflection
angle and the time delay of a photon trajectory in the Schwarzschild metric
that allows exact perturbative calculations in the gravitational parameter GM
in two coordinate systems -- the standard Schwarzschild coordinate system and
the isotropic Schwarzschild coordinate system. We identify a coordinate
dependent term in the time delay which becomes irrelevant for the arrival time
difference of two images. It deems necessary to sort out unambiguously what is
what we measure. We calculate the second order corrections for the deflection
angle and time delay. The CSTD does generate correct lens equations including
multiple scattering lens equations under the variations and may be best
understood as a generating function. It is presently unclear what the
significance is. We call to reanalyze the existing strong lensing data with
time delays.Comment: 6 p., 1 fi