I get the same exact lag with Reafir. It's even worse with ReaVerb. Those have to be inactive when record monitoring. If they're on the master track disable the whole master track's fx when record monitoring. Another idea to consider: Zero latency monitoring. You need an interface with 2 inputs, that offers zero latency (signal bypasses computer, goes right to output). Split the incoming signal, one gets recorded as a clean D.I.(muted in headphones), other you can use fx pedals to get a useable monitoring sound. Now you can set the audio buffers as high as you want, no lagging any more. Run this as well: Sorry, you didn't mention what instrument you are recording.... the above scenario works well for guitar and bass.