RE: Latency issues
first, which driver mode are you using? with the m-audio fast track pro, I'd advise using ASIO driver mode. that alone might solve your problem if you've not disabled your onboard soundcard. to change to ASIO: OPTIONS>AUDIO>ADVANCED>DRIVER MODE = ASIO
next, make sure that your sample rate in your project matches the sampling rate in your m-audio software. running at 44100Hz is typically good enough for home applications. set your project rate to 44100Hz and then check your m-audio software to make sure it matches. OPTIONS>AUDIO>GENERAL> press the ASIO button at the bottom of the window
that will bring up your M-audio mixer panel (make sure you open it that way, not from the systray).
on the HARDWARE TAB, check your sampling rate and make sure it's set to 44100.
you'll probably have to re-record your track to get them correctly sync'd - especially if the sampling rate or clock was mismatched.