Using the Multiface II and HDSPe PCI combination, with ADM enabled in Cubase 4.1 on Win XP, I measured 1.76 ms of latency for roundtrip analog-digital-analog at 44.1 kHz. Considering sound travels at about 1 ft/ms, that's equivalent to placing your ear less than 2 ft from the sound source; for many instruments, you'd hear the close-mic'ed sound in your headphones before you'd hear the natural soundwaves. Using software monitoring (through the host application) instead of ADM, I measured 5.4 ms roundtrip latency at 44.1 kHz with a 64-word buffer size, the smallest I could go without dropouts (for a 24-track project) in Cubase. Cubase reported latency for an inserted external effect as 0.36 ms. In Cubase 4.1 on Mac OS X, roundtrip latency was 6.84 ms at 44.1 kHz with a 64-word buffer, and insert delay was 1.09 ms. At 96 kHz, latency dropped to 3.52 ms. In Logic 8 with the I/O Safety Buffer disabled, a 32-word buffer at 44.1 kHz yielded 3.9 ms; contrast this to 3.36 ms for Apogee Symphony at the same settings.