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That's a fairly decent CPU. You shouldn't be having a problem there. Check the ASIO Panel Setup and make sure you have it checked. Then it will run a test.
What version of cubase are you running?
If you can hear the sounds coming through, the drivers must be working. Personally I don't like terratec cards, but the problems you're having are rediculous. Once you're in cubase make sure you're running on the ASIO drivers. You might also check:
settings/control panel/sound and audio devices/audio/
and check the sound playback and sound recording, or at least see what's going on. Do you still have your onboard soundcard switched on? If not, you should switch that off either in BIOS, or with a jumper. You should be able to run them side by side, but it could be giving you troubles. Especially if everything thinks that is what's supposed to be recorded.
-Aaron
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