I have tried everything to be able to track with effect plug ins through Logic Pro 7, Cakewalk Sonar, Cubase SL, etc. All of them have latency when monitoring real time!
I downloaded the demo of Live 4.0.4 and I can do this all in real time
HOW IS tHIS! MAGIC?! PLUG IN DELAY COMPENSATION!? WHAT???
How is this???!!!
:P
I hear it is the faerie juice that they drink before coding that helps them break the realms of logic and reality.