From personal experience, ASIO gives the best performance hands down over the other drivers. Latency is so low it's virtually non-existent in my system. Switch to MME or WDM and latency is so thick it's impossible to adjust out to work with the project using synths.

This from Wikipedia referencing ASIO.

ASIO bypasses the normal audio path from a user application through layers of intermediary Windows operating system software so that an application connects directly to the sound card hardware. Each layer that is bypassed means a reduction in latency (the delay between an application sending audio information and it being reproduced by the sound card, or input signals from the sound card being available to the application). In this way ASIO offers a relatively simple way of accessing multiple audio inputs and outputs independently. Its main strength lies in its method of bypassing the inherently high latency and poor-quality mixing and sample rate conversion of Windows NT 5.x audio mixing kernels (KMixer)[citation needed], allowing direct, high speed communication with audio hardware. Unlike KMixer, an unmixed ASIO output is "bit identical" or "bit perfect"; that is, the bits sent to or received from the audio interface are identical to those of the original source, thus potentially providing higher audio fidelity. In addition, ASIO supports 24-bit samples, unlike Windows NT 5.x MME and DirectSound which truncate 24-bit samples to the upper 16 bits, whereas Windows NT 6.x mixer provides 32-bit floating point output. Higher bit-depth samples offer the potential for a higher signal-to-noise ratio.

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