Hi - there is nothing 'wrong' with the LP-64 or Perfect Space, or any other plugin that adds lots of DPC Latency to projects. It is a matter of understanding WHEN those plugins should be used.
The plugins I listed above, and others like them, are not meant to be used during the recording phase of a given project. Due to what they are doing, and how they do it, the added latency for those and other similar plugins is expected and needed. These types of plugins are meant to not get loaded into a project until all the recording is done and you have moved to mixing/mastering.
When you are recording, you need a low latency in order to be able to play and hear sounds with no delay, so to do that, if using ASIO drivers for whatever audio interface you have, you want to adjust the ASIO Buffer Size to be small enough to where there is no audible delay between playing a note and hearing the note play, but the buffer size shouldn't be brought down too low, as that too can cause audio issues.
Once you begin mixing, you no longer need to worry about the latency, and in fact, you will want to jack the ASIO Buffer Size way up, to provide buffers large enough for plugins I mention above with enough buffer for them to do things like look-ahead processing (reading ahead in order to know how to process the audio data). Having a larger ASIO Buffer Size is needed for these kinds of plugins, and the caveat is that with this large ASIO Buffer Size, the latency WILL be such that you wouldn't realistically be able to continue to record, and THAT is why you don't want to load such plugins until after all of your tracking/recording is finished.
For the rest of time, in any given project, you want a reasonably small ASIO Buffer Size during recording, and a huge ASIO Buffer Size once you begin mixing - you will need to set the ASIO Buffer Size appropriately when beginning a new project and doing recording, and again once you start mixing.
For MY system, I choose to set my ASIO Buffer Size to 128, which with my audio interface running ASIO, produces just under a 10 ms total round-trip latency, which is a good balance, and I never have latency issues this way when recording. If I need to add effects plugins, I make sure that any plugin I add during recording is NOT one of the ones that adds a bunch of latency, even if that means I will swap one or more plugins out for more robust effects once I move on to mixing. So, instead of using Perfect Space while recording, I will use a reverb plugin that doesn't incorporate look-ahead processing.
Once I finish recording and move to mixing, I first adjust the ASIO Buffer Size from 128 all the way up to either 1024 or 2048. NOW, I can load in plugins like LP-64 or Perfect Space, or Boost 11.
For a project that is experiencing delays/lags, if you have some of these kinds of plugins loaded in, you can easily test playback/recording with plugin-induced latency by hitting the letter 'E' on your computer keyboard, which will toggle all effects processing to either On or Bypassed. So, if you are trying to record and having latency problems, try doing it again after toggling the effects off - ('E'). IF you have bypassed effects and your latency/lag goes away, then it confirms that one or more of your loaded plugins for that project are causing the lag, and you can take a closer look at the plugins to see if you have accidentally inserted a plugin that shouldn't be added until Mixing/Mastering.
Bob Bone