They say to always go with the most accurate clocK(obviously), and as I understand it your computer uses the soundcard as a clock for midi. If this is true, and considering that some soundcards - correction, MOST SOUNDCARDS are cheapies, even if they are installed on a top notch P-3 or Athlon, it doesnt matter. Luckily Cakewalk gives you the option of deciding what you will time with, and I use the clock in my card because it is a Yamaha DS2416 (one of the better audio I/O boards out there.
Im sorry I'm just not sure about your question on if your proposed solution will work or not, it sure cant hurt to try it.
Aurastar, the backup, and reload everything every so often is not a bad idea. As I hear it, as good as windows works most of the time it does have a tendancy to degrade over time, seems bugs tend to develope in the binary and its all downhill from there.

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Smitty