Well... I've done all of the tweaks as per the Sweetwater link from msorrels, as well as the tweaks from gswitz's video. I tried to update my usbport.sys drivers through the Microsoft hot fix (KB2529073), but it won't install... it tells me that it's not for my system (weird). But a little research shows that others have had the same problem with this hot fix.
Still having major dropout issues... with AND without Waves plugin present.
Also, have tried again with the Waves licenses on a usb stick and disabled the NIC. Same dropout results.
I almost at the point of parking the licenses on the cloud, and running a restore to just before I started this little venture. I really like TrueVerb and SuperTap, but this is starting to look like it's more trouble than it's worth.