I recorded a piece this afternoon using Akoustik Piano on my Eee. I chose the audio driver that is on the netbook--Realtek HD Audio at 44100 yielding 10ms latency. It seemed to have an easy time recording.

I tried the Asio4all but couldn't get that to be able to play even at 33ms and higher.

Here is Bach's BWV 933 Prelude in C Major on boxnet recorded using my Roland FP-4--Akouskik Piano's Steinway Hamburg D virtual piano and my Eee netbook.
http://www.box.net/shared/v0qnq6xrsq