That's for the replies guys. We are running X3d and have reset and rescanned the VSTs. The project has quite a few instances of plugins (over 100). They are all either the plugins provided by Cakewalk or some of our Waves plugins (granted some of them are 32 bit). The project does not contain any soft synths.
We've talked to Cakewalk tech support 3 times and the offered the normal suggestion of updating the Lynx drivers and firmware (which we had already done).
Any other ideas would certainly be appreciated. I think the occasional long delay (measured in 10s of seconds) on when starting the transport is really odd. Almost like some sort of timeout / reset. Then, once if get past that initial hurdle, I can restart the transport and if starts right up. The CPU isn't really taxed. Even when playing all the tracks with all the effects, it's well under 50%.
Thanks, again, for your help.
Ed