Hi Bomb, thanks for the amazing video tutorial, I have tried it and still there is this lag between my own playing and BIAB's song that I have used as a basis to jam with when I play it back.

I have BIAB 2009, 64 bit computer with Intel(R) CPU U7300 @ 1.30GHz I have 4 Gig RAM...?

and thanks for everyone's contribution, but still not there!!