Software has nothing to do with the audio quality. Only in 64 bit will you here a difference. AND I have yet to hear it.
ALSO, the latency issue has to do with your whole computer. You can have the minimum requirements, but if your computer is sluggish due to the internet, other programs and such, your going to have that problem. ESPECIALLY if you bootlegged ACID!
Think about it, a slow computer can ruin the work flow and integrity of any software.