Thanks John!
I'm leaning towards the issue originating from the Tascam for a few reasons:
I fully realize that my "vintage" FX86 (saw someone selling one on Ebay and the called it that) may seem like the low hanging fruit but I tried removing the pedal and it still drops out. Then I plugged the guitar directly into the Tascam and it still drops. AND I just noticed, when you pointed out that it was calling it a mic (which I 'm not sure if it did on the other computer or not, can't check now as it got bricked), but when I click on the input, it comes up as US-2x2HR (1 in, 1 out) which is not correct and I know for a fact on the old computer is showed 2in, 2 out like it should. This is verified by the fact that input 2 on the Tascam does not work at the moment. I downloaded the driver, but the real kick in the junk is that this computer is my work one and IT has it locked down for changes............crap. I'll just have to wait till Tuesday to see if the driver works.
I appreciate everyone's help.