The bitter truth of realizing the latency (delay) in the monitoring of line in/microphone inputs in Windows Vista/7/8 is being regarded as the most unsolved mystery in the windows audio environment. This accounts for all those musicians (like me and other people who were enjoying music through the computer during Windows XP), drown in sorrow in realizing the latency in monitoring the line in/microphone after upgrade. This shattered the positive expectations of flying to the sky after upgrading from Windows XP. Some reverted back to the ground with Windows XP and are happy. But others like me who upgraded the hardware too, learnt the hard way that once you are in the air you cannot come back to the ground as there were no available Windows XP drivers! After all those 'negative' results from experiments like wasting valuable hours in searching/modifying Windows XP drivers, getting cramped fingers after workout through linux commands etc. I finally devised a method to resolve the global problem with easy and basic steps.
Instructions as follows-
1. Download and install the latest 'FL Studio' demo version from their website. This includes the important 'ASIO4ALL' drivers.
2. Connect the line in/microphone systems and check whether they can be heard, well, with their latency. In some systems with the default configurations, only external microphone connection works by default. So, if prompted to select the connected input type, always choose microphone instead of line in.
3. Choose a 'Balanced' or 'High Performance' Power Plan if using a laptop.
4. Run 'FL Studio' and create a new project.
5. Under <Options/Audio settings/> click on the 'Input/Output device' drop-down menu and select the 'ASIO4ALL' driver and close it.
6. Click on the 'View Mixer' button at the top-right section to bring up the mixer panel.
7. In the mixer panel on the far top right side, there is a drop-down list with 'IN' written beside it.
8. Select your audio capture system stereo/mono.
9. Similarly, at the far bottom right side, select the audio output device in the 'OUT' drop-down list.
10. You should be hearing the input with almost unnoticeable delay.
11. Now practice, record, mix or shout with joy (like I did).
My heartfelt honor goes to you all who had suffered like me. But now, not anymore!