Sorry I'm so late to the party, but I just started using Cakewalk for music production. I have been using it for sample processing on my VirTual Theater Pipe Organ, however, for many years.
I had latency probs trying to drive the virtual instruments in Cakewalk as others prolly had. I saw the suggestion about trying ASIO drivers, and remembered this helped when I was linking my midified theater pipe organ console to my VirTual Organ setup.
For music production, I am using an Edrol UA-25 external for both audio and MIDI. I am on a Win 10 laptop and so had to modify the Edrol drivers per a tutorial to work on anything past Win 7. I had a LOT of MIDI latency, thought I couldn't play in time any more! I loaded "ASIO for All" from a site I googled (be careful not to download the other junk they have ads for on the site!) and selected ASIO as the MIDI drivers in preferences. I could not get the ASIO audio drivers to work, so I went back to what had been being used for audio previously which was "UA-25 in" and "UA-25 out." W[th ASIO drivers for MIDI and the UA-25 default drivers for audio, everything is working great, I can make decent music with the system, and in time, too!
