Best Mixer/USB audio interface under $200???

[JWForeman]

Hi everyone,
I'm a noob here so hang with me for a minute. I'm looking for a mixer/usb audio interface for less than $200. I'm looking to solve a specific problem. I want to be able to record vocals, but monitor the vocal input without running through the PC/audio interface to the eliminate latency problems i currently have with my Line 6 KB37. My laptop is just isn't up to snuff and the wife wont let me buy a new one just yet.
My goal is to be able to send the clean signal to Live via USB, while monitoring the raw mic signal and the playback from Live at the same time. It would even be nice to have an onboard effect or two for the raw vocal during monitoring. I'm not a pro by any means nor do i plan on being one. This is mainly for me to play around with, record some songs for family, and maybe do some jamming with friends. So, I dont want to over buy, but at the same time, I dont want to buy something now and then 6 months from now when I know a little more about how things work, wich I would have purchased something else. Any advice is appreciated.
I"ve been reading up on the Behringer XENYX X1204USB. Will this do what i need?
Also, if anyone would know how to do the same thing with my KB37 please let me know.
Thanks
-John

[jpgringo]

I've had great luck with the M-Audio Fast Track, for what it's worth. It's not my main interface, but it is super-portable. The Fast Track Pro (which I don't own, to be clear) has more features, and still sells for under $200 online.

Just guessing, but I think onboard effects are probably unrealistic in that price range. Not sure that's where I'd ideally want them in my signal chain, in any case (though I get why you do), and would be suspicious of the quality of anything being offered that cheaply.