problems setting up microphone for recording

[EyeBallKid]

I'm having some problems setting up my new microphone. It's a Blue Snowball, and I needed to download ASIO4All to get it to work as an ASIO mic instead of MME/DirectX. The problem is, when I try to use it when it's set to ASIO, it picks up sound and can record fine, but I don't HEAR anything at all for as long as the driver setting is ASIO. As soon as I switch it back to MME/DirectX, not only can I hear my set but anything I recorded while it was set to ASIO will be perfectly fine. As long as I've selected ASIO, even though the mic appears to be working, and actually is picking up the sound, it's as if I've turned the volume off on my whole set until I change the setting back. So, basically, I can record with this mic, but I can't listen to my set while I'm recording with it. Does anyone know what I'm doing wrong?

I've tried using it as MME/DirectX, but that has its own set of problems. It will only recognize the mic about 70% of the time, and when it does recognize it, I'll often (whenever I'm trying to add vocals to a pre-existing set) get this static-y sound, or it'll sound like you're hearing me on a cell phone with bad reception or like a CD that keeps skipping. I don't have that problems if I record something with it as ASIO, or if I'm recording onto a new set w/o any other tracks. I thought maybe that could be a CPU issue, but I'm recording onto sets where all the other tracks are flattened and the CPU load is well under 50 even while playing the vocals.

Those are the main problems. The other problem is that I thought I had figured out the whole Latency issue, and I set the Driver Error Compensation to 106 ms, which is what I figured out it was supposed to be, but doing that doesn't seem to have any effect on the actual clips I record. I've been just setting each individual clip 106 ms back to get them in sync, because I kind of think this is a glitch rather than anything I'm doing wrong.