ASIO isn't a magic bullet; you can get 5.8ms with WDM too. Some vendors' drivers do work better with ASIO, though. You have to try both.
Because latency is unavoidable, SONAR does its best to compensate for it. It figures out the latency from buffering, data conversion and plugin processing and makes everything line up properly.
If you record a new track and notice that it's not lined up with your previously-recorded tracks, it's possible that there is unaccounted-for latency. I won't go into how that can be; let's just say SONAR doesn't always know about every source of latency.
For those situations, SONAR provides a manual offset. On the audio options screen you'll find a box labeled "offset", or "manual offset", I forget which. Figure out how many samples off your tracks are and enter that number in the box, usually as a negative number assuming your tracks are late. SONAR will then add that to its own calculated latency number and everything should line up perfectly from then on.