I finally got tired of my buggy firewire 410 and got a Roland Quad Capture. It works great, however, if I have a track armed to record and press the record button during playback, I get the Windows "ding" telling me, "you're not allowed to do that" and can't arm the track. Also I have no waveform preview during record. I have everything enabled in preferences but still no luck. If I open a project in X1 I can arm during playback and see a waveform preview during recording and everything works as it should. What magic switch am I not hitting to cause this? Any help would be greatly appreciated.

If you right-click the Transport Control Bar Module's Record button, the appropriate preferences dialog will open.  Double-check, just to make absolutely sure that you have "Allow Arm Changes During Playback/Record" checked.  

In the Customization > Display section of Preferences, there's another option labelled "Display Waveform Preview While Recording."  Check that one too.

Hopefully, these aren't set.  If they are, let me know so we can try some other things.

Yep, they're both checked, every option is exactly the same as my X1 setup. Leave it to me to find some glitch that no one on planet earth has ever run across..lol

Same issue with No Waveform display during record.

Fixed the waveform not displaying while recording by unchecking Auto Punch in the Project/Record section of the prefs