Here is my solution. I use VC since v2 without any problems. No additional Sound cards (virus ASIO) and I love it!
Yep.
First at all you need to configure your pc correctly. So, windows xp sp2 without any additional drivers (Windows DAW edition
only necessary drivers (vga, mb and virus drivers).
When I record tracks on Virus with VC, I always SWITCH OFF DELAY COMPENSATION and CHANGE OUTPUT under COMMON (in VC) to PHYSICAL OUT 1. TURN ON "LIVE" BUTTON IN VC. Now you can record without any delays. After recording CHANGE OUTPUT to USB1 (under COMMON in VC), TURN ON DELAY COMPENSATION and TURN OFF "LIVE" in VC. Now you need to resample this track. Create AUDIO track and change input recording for RESAMPLE. Now record you track from Virus to audio. That's it. Repeat those steps to record another track. Maybe it's sounds complicated, but believe me, this setup changes will take you 5 sec. Enjoy.
Here's my youtube channel with examples:
http://www.youtube.com/profile?user=leszczufiacek