Originally Posted by shanabit
What Mac are using? CPU, RAM etc?
Many of us using 10.7.2 without any issues. Its more than likely the drivers for the 2626.
Also, did you do a disk permissions repair after doing all the updates?
I'm about 95% certain its the drivers, though m-audio just released an update on oct 28th 2011 claiming they are now 100% compatible with 10.7.2...obviously theyre not.
TO RECREATE THIS BUG
Model: Mac Pro 1,1 - 2007
CPU: (2x) 2.66 GHz xeons
Memory: 8 GB (4 X 1GB)(2 X 2GB)
M-Audio Products: Profire 2626
To recreate this bug (pops and crackles, audio slowdown ) open itunes or logic pro 9.1.5, In itunes, listen to music for a few minutes, in logic pro enable record, and play guitar into input 2 (di enabled) on the front of the profire2626. after a few minutes you should hear heavy pops and crackles accompanied by severe audio slowdown.