In windows, I have at Sound Card Properties: In Port: NONE, Out Port: Direct Sound: Direct Sound (SB Live wave Out) which allows 10 ms latency for play-ahead. That's the best setting possible (slider all to the left) and there is no apparent latency at all.

Using Direct Sound solved any problems I had before.

I had no luck getting any ASIO drivers and don't think I need them any more.