I run that exact set up and it works beautifully. I can go all the way to 32 tracks loaded with plugs with no problems. Every once in a while I'll get a drop out while trying to put a CPU intensive plug on a track. I'd highly recommend an external HD as you will notice your disk usage slowly rising with each project. Not sure about latency make up? It doesn't for some of those plugs that add 3-5ms of latency but a simple nudge will fix that. All in all its a pretty powerful system for relatively cheap. Just wish I hadn't bought my Imac on day one, they've dropped nearly a grand since they were introduced. One last thing is recording at 24/96 can be a bit of a pain in the ass. I have real problems getting more than 15 tracks with plugs. If I'm going no plugs at all I can stretch it to almost 20 but it really bogs the cpu down.

PT LE has no latency makeup whatsoever.....

personally i don't care.... i even turn it off when i work in PT HD!!

i can take care of it myself..... PT has latency readouts on each track....