Yesterday I tried to deal with the track delay or the external instrument, so in order to do a proper test I put the direct monitor of my sound card at 50% so I could hear the direct signal and the processed signal at the same time. This way it’s easy to align both sound.
I then dial with the track delay or the HW latency but it seems that after a certain time (eg : 100ms) Live cannot handle the delay. I mean if you put 100ms or 500ms, you’ll have the same result.
Next time I’ll give the midi sync a try but I don’t put too much hope in it.
You’re right about the darkness that Ableton maintains around the latency, even in the user manual there no info about it. Pretty annoying.
The thing is that I don’t know how OB works in relation with Live, how it compensates delay or how it handles latency. I guess it’s easier if you use only one sound card and send everything to it, but OB is so useful, I’d rather remove my (cheap) sound card and use only OB.