Hitting 'E' on your keyboard will bypass all effects, allowing you to test whether or not your latency is caused by one or more of them.

Bob Bone

I don't know the Mini V, but I wouldn't think that it would cause this issue.
 
Are you sure that there are no effects?  The usual culprits in Sonar are the PC Concrete Limiter, LP-64 Multiband Compressor, LP-64 EQ and Perfect Space Reverb.
 
They are either look ahead (like the PC CL), or CPU intensive (like Perfect Space).  I am sure this is what's causing your latency.
 
Check that there are none of these in FX bins or ProChannel of any tracks or busses, including the master.
 
As Bob said, press "E" on your QWERTY keyboard, or press the "FX" button in the Control Bar.  If the latency disappears, then you know it's an effect.  Track it down, and disable it whilst tracking.

I have the mini v and the rest of the suite of Arturia plug ins. I have no issues but I also have 16 gigs of ram. 

Thanks all. You're right. Perfect Space was the culprit. Once that is added to a project, the Mini V exhibits the latency. Fortunately just turning it off (don't have to delete it) - or hitting E as suggested made the latency go away. And I do only have 3 GB of ram. Odd though I did not have this problem with X1 - all else being the same.

Just sub out Perfect Space while you are tracking, and put it back in afterwards.

Bob Bone

FWIW, the amount of RAM should have no effect on latency. If you run low on RAM (or out of it), you might experience dropouts, sure, but you'll experience a lot more than that along with it.