Sounds like you’re using too much cpu. Are you using a lot of plugins? You can freeze tracks that you’ve already recorded, that converts them to audio clips and removes the plugins, it reduces cpu usage.
It uses the latency, even adding more. It works by delaying what you’re hearing. I used it last week with some stuff from uni, and again yesterday, a friend of mine used it last week with his jazz trio too. It’s good.
My friend used it last week for a jam with his jazz trio. He said it worked really well. They’re all apparently much of a muchness with regard to setup, once it’s setup though, that’s it, you don’t have to keep setting it up each time you use it.