So this all should work. I think it's just a matter of getting you set with the correct drivers and a little computer tweeking. Make sure everything is set to use 44.1 and not 48Hz. 
This is important  Download and run the DPCLAT test and make sure your system is not interfering with the audio.   http://www.thesycon.de/deu/latency_check.shtml    
 
24-bit/44.1 kHz USB-AUDIO (Hi-Speed USB)
 
PC CompanionThe ultra-flexible MICRO BR BR-80 can be used as a stand-alone digital recorder or as audio interface for a USB-equipped computer. Cakewalk’s SONAR X1 LE DAW software (for Windows) is bundled with the MICRO BR BR-80, giving users a full-fledged PC-based music production environment with latency-free recording and a powerful range of COSM amps and effects. Furthermore, the bundled Wave Converter software lets you easily exchange data between the MICRO BR BR-80 and SONAR X1 LE or any other DAW.