Hmmm, thanks Bob. I went and installed LatencyMon, ran an analysis and played the song through twice (with multiple dropouts as expected.) I'm not sure i know much more after viewing the LatencyMon stats. key metrics:
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Your system appears to be suitable for handling real-time audio and other tasks without dropouts.
LatencyMon has been analyzing your system for 0:10:54 (h:mm:ss) on all processors in the system.
Highest measured kernel timer latency (µs): 180.929632
Highest measured SMI, IPI or CPU stall (µs) 6.159307
Highest DPC routine execution time (µs): 596.156015
Driver with highest DPC routine execution time: nvlddmkm.sys - NVIDIA Windows Kernel Mode Driver, Version 306.97 , NVIDIA Corporation
Highest reported total DPC routine time (%): 2.826032
Driver with highest DPC total execution time: Wdf01000.sys - Kernel Mode Driver Framework Runtime, Microsoft Corporation
Total time spent in DPCs (%) 3.893148
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While one could argue that my video driver is causing some latency, that truly does not seem to be a problem as most of the time, I can record and playback projects with no issue. The only problem I have is that for certain projects, I get dropouts at approximately the same points in the song. I'm starting to wonder if this is not hardware related at all. Maybe some bug/issue with the project/audio files themselves?