I'm with bitflipper on this one - dropouts can sound like distortion.
The delay in the track you were recording may have been caused by a look ahead effect or a cpu hungry one.
Did you have the PC concrete Limiter, LP-64 EQ, LP-64 Multiband or perfect space running when you tracked? If so, it is better to disable until mixing.
Don't track through Perfect Space, use another reverb that is not convolution, like Breverb, Pantheon or Sonitus, then replace it with PS when you're done tracking, and increase your buffer size.