Okay, that's looking good.
First I'll say you might want to get a hold of Cake tech support for some recommendations. Send them an email with all your system specs and details on what's happening, write down the ticket number then if you are in the US call the toll free number 1-888-CAKEWALK. The reason I say send an email first is because then they have all the info in front of them when you call and give them the ticket number.
That said...
Do you know how fast your hard drives are? If they are mechanical HDDs 7200RPM is optimal. SSD drives are obviously faster though.
Check out a program called DPC Latency checker (has nothing to do with recording latency it checks for resource spikes on youor system). It's free and Cakewalk will likely recommend it.
Have you optimized your system for audio? There are multiple guides out there but Cakewalk has some specific steps for Sonar. Ask them about that.
Also if you are using an ASUS motherboard there are some issues with them shipping out with a bad BIOS set up. There is an update on their site for many of their boards but BE CAREFUL. Sometimes screwing around with that can bork up your system so maybe contact ASUS or whoever made your motherboard if you think this is an issue.
Firewire is best run from a Texas Instrument chipset so if you are running it straight into a motherboard that has an inferior FW chipset a PCI firewire card might be something to consider (but at that point perhaps it would be better to find a USB interface... but it is worth pondering).
Anyway that's all I can think of for now and please talk to tech before you start tinkering with things if you aren't sure about stuff.
In the meantime try to keep your effects usage to a minimum until you are ready to mix. Especially the resource intensive ones. Wherever possible "freeze" you tracks to free up resources while tracking and editing. That should help things moving along a little better. Then when it's time mix and add effects increase the latency buffers. My computer is a powerhouse and I do this anyway.
Good luck.