Try using a discrete thread and see if anything changes.

It's in the Prefs-audio tab and defaults to Main Thread. Switch to discrete and see if it works, if not, switch it back.

22GB page file seems a little large .. "By default, XP creates a page file which is 1.5 times the amount of installed RAM" and this setting is recommended for audio recording systems; doubt that comes into play here, but I did notice
This can be controlled by user.

I do not work here, but the benefits are still awesome
Make your sound your own!