Yes, having a faster processor will help with latency but there are things you can do to lighten the cpu load. Your audio interface or soundcard also plays a role in latency as well. I find myself distracted if the sample rate is higher than 256 samples but it does depend on what I'm playing. Try to set you buffer size as low as you can with out pops or clicks or crashs. Record your first midi track. Before recording your next track, bounce the 1st track into a new take and then bypass your FX. You can do this by right-clicking the region-- take--apply FX as a new take. This saves a ton of resources....love this feature. Another thing that can lighten the cpu load is recording in 16 bit rather than 24....and a sample rate of 4100. This can be found under --file--project settings.