Latency issues with M-Audio Mobile Pre

The title says it all. I've got latency issues with this USB audio interface.

I've turned off the 'direct monitoring' function, but, when played through Logic Pro (as a live input) there's a destinct milisecond delay between playing a note on the guitar & it coming out of the speakers.

Any thoughts?

Try and play the sound coming out of the Mobile Pre, not the Mac speaker setup.