Why are you experiecing latency? The Fast Track isn't a great product but you shouldn't be experiencing more than 20ms of latency unless your computer is particularly slow. What software are you using? What's your budget?

well...i checked the current latency and it was 461ms! i can get it down to 10ms however at the cost of audio quality. I'm running a laptop with a gig of ram and duel core 1.73Ghz processors so its nothing crazy but it gets the job done. I'm just using the software that came with the Fast Track which is Ableton Live Lite 4. my end goal is to be able to overdub and like i mentioned earlier to be able to eventually use vocal editing programs etc. the amount of latency that I'm experiencing with the Fast Track makes it impossible to do any sort of overdubbing. I'm looking in and around the $400 and under range. i don't know if it is better to get a system similar to the Fast Track that plugs into the computer and records directly onto the computer via fire-wire instead of USB or to get a standalone recording system (internal hard drive, on-board CD burner, on-board effects, 12 or so tracks) or what?

First of all, as it is often mentioned here, you should be recording to an external drive. How is the audio quality being effected when you lower the latency? I'm assuming you are using the correct asio driver. If you lower your buffers to around 512kb it should be fine. 20-50 ms should be tolerable. As long as you're not getting pops and crackling, that should be your main concern.

Make sure you turn off any un necessary programs: antivirus, messenger or the like.

If you wan't to spend money. The Mbox 2 Mini is $298 cdn. Comes with ProTools LE and phantom power for condensers.

There's also the Tascam Fireone.

Mackie Onyx Satellite.

This entire thread should NOT be in the "Buy And Sell" department. It should be moved to Digital Audio Recording. The person who originally posted this thread has the ability to do so.

Please DO SO.