I found that using an interface with a DSP chip and onboard effects solved my latency problems. Of course, it depends what you are using the DAW for. For guitar, I tried amp sims but latency destroyed that idea, I also didn't like the sound. My computer is old, 4th generation i5, 8gig ram. Now I use pedals to get the sound and run it into my Steinberg UR44 where I can route it out direct to the headphone while recording, no latency, I can also add reverb to my headphones, since I don't use pedals for that and add it in afterwards from the DAW. I can also use a HPF and some equalization/compression, through the UR44 before it hits the DAW, used sparingly it's great.
For keyboards/drums, I use a nektar midi keyboard controller and Kontakt/Komplete and other VST's. Unfortunately, there is no way to avoid the latency with this setup. However, I have found the Steinberg drivers to be the best so far out of what I've tried on my system so I have no complaints. Don't really notice it, whereas i did notice it on the other audio interfaces i tried.
For vocals/harmonies, same as guitar, record straight in add compression or equalization to suit and any reverb in the phones, output through the DSP chip and no latency.
I could never get the ease of use and sound I wanted from USB powered interfaces. I prefer the wall wart powered, DSP mixer and effects chip type interfaces (generally, if they have a DSP chip, they need external power). But again, it depends what you are doing with the DAW. This is the best setup I have found for my uses but it may not suit others. It's also not that expensive to set up. More money for mics, guitars/pedals and VST's.