Did you say "Lecture me on the dangers of using a laptop in a live situation"?
No problem!

Ed can come over and take it away from you.

Tell me more about the laptop EQ, I'm in a similar situation with my IBM ThinkPad. I don't experience much latency using it's internal sound, but the extra noise on the tiny headphone jack output is starting to piss me off a little. I was also considering getting a USB audio interface. SO far I've been told that firewire is better. Hmmm...not sure myself, 'cause I haven't really used firewire stuff much. Anyways EQ, I'm glad you've opened this thread.

-ED-