Dave bullzied it. I recall "going thru" components when MIDI was first introduced. That latency mentioned earlier in the subject thread would typically not occur AUDIBLY (it does occur but the delay goes unnoticed)until the point where mostly wire length starts to delay affecting that interface signal. Circuits will have some (however it is minimal) delay affect as well contrary to something someone said above about circuits having no latency whatsoever.
My main reason my for re-entry on this thread however is something that I completely failed to mention that is important which applies to sequencing and latency.
The time post (sync).
This is a handy dandy function for sure. All it really is, is a checkpoint. Think of it as a repair supervisor along a race course with his clipboard and stopwatch. Your vehicle is the MIDI tracks all grouped. You whiz past him and if your muffler is dragging behind a little, he will repair it back snug on your vehicle. His stopwatch says "at this time" and his clipboard says "this is where everything is supposed to be". When your vehicle passes him, it is made as such. Aah, but the best part is to come. You can assign as many checkpoints as you wish. In fact when I do a score for a commercial I must provide checkpoints for the video editing (although that is besides the point because they are a different standard) that are as tight as one ¼ of a frame(thats 8.33333ms for you math monsters)! I personally have never experienced latent MIDI signaling that needed sync points to exceed 66.66666ms and even that is quite extreme while typically running 64 channels. If I need to run more than 64, chances are I will stop, sit back for a second or two and try to figure out what he hell I am really trying to achieve sound wise because there is, however it is extremely rare; times when more than 64 are really warranted. I have experimented when I first started using a G4 computer as a new replacement (yeah, it was a while ago LOL) of the previous gear. I found the G4 began it's audible latency on 256 tracks non-parrelleled with the info rate exceeding 16 notes at 120BPM. Finally, I am honored to have provided you this latter portion of useless information. I shall partake in my reprimandation now by playing "Smoke On The Water" intro with my Magnus for ten minutes.
(w/headphones of course. I wouldn't do that to the neighbors.)
Weird as always but warmest regards from:
MORPH!