Paladini is now in control at Loftus Road and is likely to take over Devlin's duties.
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Dowie, who was sacked as Coventry boss in February, says he is thrilled to be involved at Loftus Road.
The 40-year-old former Northern Ireland international, who left Portman Road in April, has signed a two-year deal at Loftus Road.
Priskin, meanwhile, is an international team-mate of Rangers midfielder Akos Buzsaky and will wear the number 36 shirt at Loftus Road.
The 50-year-old, who has led Udinese, Napoli, Reggina, Genoa and more recently Siena, has signed a three-year contract at Loftus Road.
Davies and Kraus were brought together by Brian Melzack, who fronted a consortium that almost took over at Loftus Road last year.
In the relegation battle, Queens Park Rangers improved their hopes of EPL survival with a 3-0 win over Swansea at Loftus Road.
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Before the game QPR unveiled a new club badge to signify what they hope will be a new era at Loftus Road.
Vauxhall Motors caused the upset of the FA Cup first round as they dumped out Second Division QPR on penalties at Loftus Road.
Striker Rowan Vine, who failed to make an appearance after moving on loan from Queens Park Rangers, has gone back to Loftus Road.
It is also on the same road as Queen's Park Rangers' football club ground, Loftus Road, and is just yards from a school.
Delaney impressed after moving to Loftus Road from Hull last season.
He was told by Paladini on Sunday night that he was being relieved of his duties at Loftus Road whether or not he lands the Foxes job.
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The 23-year-old will be available to the Loftus Road side until 24 April, although a deal may be struck to extend his stay until the end of the season.
Edwin van der Sar was the hero when the sides met at Loftus Road and he had to be alert early on with Horlock testing his handling from distance.
The former Crystal Palace player has had few opportunities since Neil Warnock arrived at Loftus Road, but said he was confident of making his mark under Charlton boss Phil Parkinson.
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But his QPR spell is due to end on New Year's Eve and the 24-year-old is believed to be unsettled at Loftus Road after Jim Magilton's sacking earlier this month.
Rangers had not conceded more than once in any of their previous 10 home league fixtures this season and had defeated high-flying Cardiff in their previous match at Loftus Road.
The 28-year-old Italian arrived at Loftus Road on a three-year deal last summer and scored on his debut against Exeter in the Carling Cup, but failed to score in nine subsequent appearances.
However, Watford ended Rangers' unbeaten start to the campaign with an emphatic 3-1 victory at Loftus Road in December and they wasted no opportunity to try to pressurise a defensive unit that had lost keeper Paddy Kenny to injury during the warm-up.
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