So it turns out that while my software driver had updated for the Fast Track, the firmware did not. I did a repair of the driver install, which in-turn, did the firmware update that it had missed when I first installed the latest driver (don't know why this didn't happen, which is why I didn't even think to look at the firmware). The firmware was only 32 bit, while everything else was 64 bit. Which is why things were going wonky, I'm assuming.
 
Just ran everything smoothly. No dropouts, not even a single spike in latency whatsoever.
 
I think the problem is fixed, I'm going to try reducing my latency settings now and see if i can get back down to low latency mode for recording.
 
Just want to thank all of you for the suggestions and help, it saved me from having to try and fight with logic on my ancient macbook.