I'm facing the exact same problem. I tried to do what Scook said (deleated Realtec Asio folder). Now Cakewalk runs normally, but there's no sound. I tested the sound from my notebook using the speaker and also earphones and it works fine. There is still a problem with cakewalk. Bone, Grannis and Bert mentioned it worked for them. What else did you guys did other than deleating Realtek Asio? Did you installed a specific driver?