@NetHwarang
I think the difference is that Time Vault worked as intended, or close to, with the original text, so it didn't have to change much. Well, except for updating it to meet current wording.
Waylay was a different story, I'm not 100% on the details, but it wasn't what they wanted to the card to be able to do, which was make three 2/2s to block and/or swing with the next turn for 
mana.
Posted By:
Havens
(6/5/2012 11:42:15 AM)
Is the knight spitting at me?!
Posted By:
SarcasmElemental
(8/24/2012 5:42:57 PM)
Fervor.
Posted By:
TheWrathofShane
(6/10/2013 9:32:30 PM)
I play it in my Teysa, Orzhov Scion deck as an exile effect that interacts well with some other cards like Twilight Shepherd. Realistically, though, it's also because this card has one of the best flavor texts ever. The art is also pretty sweet. Overall, I wouldn't play it without some kind of special interaction, but when I do play it I'm glad that the non-mechanical aspects of it are also great.
Posted By:
Aremath
(3/21/2014 3:51:26 AM)
According to the rulings on Sundial of the Infinite the tokens this creates would still be exiled as Sundial skips straight to the cleanup step. So sadly that combo doesn't work.
Posted By:
Luchian-D
(5/20/2014 9:19:44 AM)
You have been waylaid by enemies and must defend yourself!
Posted By:
OlvynChuru
(5/24/2014 4:46:00 PM)
Meanest thing I ever saw done with this card was to cast it after playing Confusion in the Ranks. Steal three creatures and leave nothing in return.
Posted By:
Mainstay
(6/4/2014 10:28:50 PM)