Ninj, glad to see you're up and running with the VST's.

I'm assuming you're connecting the Rock Frog using the USB connector?

Can you let us know your exact signal path and conncetions.

Steve

yes I am connecting the rock frog using the usb connector. Can you elaborate more on the signal path and connections?

All we needed to know is how you connect your guitar to your PC - if you're using the USB connection from the Rock Frog that's enough info.

Open GT3, go to the Mix View and near the top of a track strip, click on the INPUT to show the drop-down options (between Track x and Trim) - let us know what these options are Ninj.

the option is stereo microphone (rock frog).

If you use the realtime monitor, you will have issues.

Looks like Steve's away for a bit.
Have you tried the WDM or ASIO driver mode with the Rock Frog?
Unlike most units of its type, it appears to support both. If you can get away from MME, you can reduce or eliminate that echo.
ASIO will alow only one active sound card, so if you use the ASIO mode, all of your input and output would have to go through the Rock Frog. That's where signal path comes in. Guitar>RockFrog>USB IN>Software(GTP3)>USB OUT>Speakers(Headphones).
WDM is slightly more flexible, and would allow you to send the output to your computer sound card and speakers.
Depending on what that sound card is, that may or may not be a good thing.
Since the Rock Frog claims to support ASIO, I would try it. If you can get your latency under 10ms, this is usually workable.
10ms is just at the threshold of perception, so you would probably notice it, but you can get used to it, and it's not unusable.

Not addressing the issues or any solutions to them doesn't help me any if I'm supposedly using a realtime monitor. I will rather listen to the solutions from strummer steve or other people giving constructive input to help me out.

Edit:Response to pistol pete

how would I go about reducing the latency? So far everything is functioning right on the graphics card I selected other than the delay/echo coming from the program.

Are you still using the MME driver mode, or have you changed it?

MME driver mode