Quote:
ASIO only gives you an advantage while recording,


This has been stated a couple times and is not really the accurate answer.

ASIO is faster when allowing you to hear the input signal come out of your speakers. This is especially true with MIDI coming in and Audio coming out of your computer (playing a softsynth or VST effect in realtime).
Many systems default to as much as a 2 second delay using MME. That means if you trigger a note on your physical keyboard and expect to hear the sound generated by the computer (using a synth inside the computer) it will be obviously delayed.

This does not happen 'only' when you record; it happens on any input from outside the computer when using MME.

The correct observation that leads to the above quoted statement is that 'playback' gives the computer time to create the buffers needed to play everything smooth, but IF during playback you try to play the same part along with the song from that same external source, you will hear the same delay.

Thus it does not "only affect recording" .. it affects a certain signal path during both playback and recording. Any signal coming into the computer and immediately being sent back out as Audio. That's it plain and simple.

MME is more stable (because of the buffer time)
ASIO is faster to respond to real time changes. Be it MIDI input, a mixer move, etc.
Audio Stream In Out (ASIO) creates a more direct connection from the hard drive (sound source) to the speakers, with less buffering. It's a better choice, as long as it works for you. But it does make the system work harder/faster. And the specific drivers can make a huge difference in whether it works on one machine or another.

Understanding the difference may help decide when you need ASIO and when you don't.
It's not uncommon to 'turn ASIO on' for a session and then return to MME here.

MME is less drive/system load .. but may not give the needed response performance, so I use both as needed.

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