Thanks for the help, guys. I was able to improve matters by checking the "Use ASIO Reported Latency" parameter in the preferences (see screenshot below).

For some reason, this parameter was unchecked, though the Help Guide reports this is checked by default. Weird. So far, it lines up the audio vs. midi fairly well. I imagine if I need to get it
just a little bit better, I use the Manual Offset parameter, correct? One question on that, however...does it affect the output/timing of MIDI Sync?
Also, what exactly does the Playback buffer size adjustment do? Default is 250ms. I've set mine to 100ms but can hear no difference.

One thing I am experiencing, perhaps related, is that when I move MIDI notes in the Piano Roll or loading sysex files into the Sysex window, I get crackling and a big burden on the CPU. Anyone else experiencing this? I can't imagine either of these tasks as burdensome to a quad-core CPU. Sure it's no i7, but come on...we're talking about tasks stemming from the early days!