Slow sound card? Or another setting?

This is a very general question to help get me pointed in the right direction. I'm trying to determine if I should be blaming my interface, my computer setup, or basic settings within Sonar X2 (well, I just updated to X3).
 
1) My interface (Alesis IO26) is not exactly high-end. But it gets the job done, without crashing or giving me too many problems. I also use an older PreSonus Digimax LT through the ADAT connectors to allow for a total of 16 simultaneous audio tracks.
 
2) I get high latency when tracking audio, as well as MIDI / soft-synth tracks.This is true whether I'm recording 16 tracks or 1.
 
3) I'm not worried about "audio", since I monitor through the interface. (Though, it would be nice to record a guitar track in close-to-real-time using a software amp sim).
 
4) I want to improve soft-synth / MIDI performance.
 
5) MIDI/synth latency is almost OK, as long as I'm just "parked" on a record-enabled track. Once I hit "record", latency becomes a real problem.
 
6) My "C" drive (HDD) has the OS and Samples. My "D" drive (SSD) contains the active project files (except for samples).
 
Where do I start? Is there any reason to believe a new interface would address the issues? Sorry for lack of specs.

Thanks AT, that's what I was looking for. I've only used the current drivers with this particular computer. The interface had the same issues on my last 32-bit XP machine (and I tried all of the available drivers).
 
I do intend to get a new interface - I've only just begun that quest! Thanks again, Gregg

Thanks Bitflipper. I can't recall where my buffers are set now, sample rate is 48kHz.
 
I've only stayed at 48kHz because it's what I've always done. I should've switched to 44.1kHz years ago. I try a couple things and see if it improves. And I can definitely freeze tracks, or rely on stems to lighten the load (while the raw tracks are temporarily archived). 
 
Still, my interface needs an update - I'm afraid it's gonna turn to dust one of these days.

GMGM
 
...
5) MIDI/synth latency is almost OK, as long as I'm just "parked" on a record-enabled track. Once I hit "record", latency becomes a real problem.
 

This is a possible sign of the situation described above by Cactus (lookahead EFX). Also, be sure you are using the latest drivers (June 2010, V3.5.3.8671).

This is why I love this forum! Here's some feedback...   (keep in mind at I'm not at my day job, operating from memory)

1) Safety Buffers - I can't find any documentation. This is a DICEII unit (I believe there was a patch for Sonar 6 or 7 to help DICEII compatibility, and I've always used TI chipset per recommendations).

2) Regarding FX bins, I tested a project with a single track, no FX plugins, etc. Again, I got lowish latency while simply "armed and ready", but larger latency once I pressed record and started to roll.

3) I also tried a few different soft synths, using both small and large samples. The same basic issue persists. I'm sure there's a marginal difference due ot the soft synth used and sample library.

4) SSD has been good for my audio drive (allowing higher track counts and faster bounce times). But I've waiting for my PC's warranty to expire before installing an SSD system drive (within the next few months I believe).

5) I'm also using the current drivers on my new PC. I have not tried the previous 64-bit driver though.

6) This one here might the key to it all. In X2 and before, there's a check box for "Use Self-Reported Latency" (or something very similar) within preferences. I had this box checked, and it shows 1500+ milliseconds in parenthesis behind it. I have not installed X3 yet, but I noticed that reference manual doesn't show this option (or it has been renamed / relocated). I imagine that setting is probably overriding any other parameters I've keyed in. I'll test this tonight when I have more patience.

(Also I couldn't NOT add this- even though sonar or something fixes it to being 1/64th early, it all sounds about 1/32nd late when playing with live monitoring.)

[EDIT]: got it. I had to set SONAR's internal buffer size to 64 *samples as well.