Hi, Harpman. I'm an old-timer, too, predating not just Windows but also PCs and Macs. Having watched the evolution of hardware, software and the industry all those years gives you a sense of perspective, doesn't it? Like me, you've seen way too many "innovations" that ultimately didn't deliver, eventually revealed to have been purely marketing inventions.
I don't know if Vista is the best analogy for W8, though. I'm thinking more Windows ME.
Regarding not being able to get below 192 samples...the Mixing Latency adjustments are always disabled when using ASIO, since those settings can only be changed via the ASIO control panel. It's entirely possible the driver either has a hard-coded limitation (every interface has a lower limit that they offer as an option, although 32 or 64 are more common minimum values) or has determined for some other reason that 192 samples is the lowest you can go. However, it should be noted that 192 samples is still pretty durn quick (~ 4.3ms) and should be acceptable for most recording tasks.