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Any modern soundcard with WDM drivers (make sure you have the hotfix for Win98SE) should be able to get you to 10ms or less latency. That is fairly usable. 3ms and lower is difficult to notice. If Vegas doesn't support WDM, good ASIO drivers will get you in the same area. You're probably using MME drivers and they are not known as a low latency driver.
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No matter how good something is, there will always be someone blasting away on a forum somewhere about how much they hate it.
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