Monitoring/playback latency w/ 002rack... any suggestions?

[Recycled_Brains]

i got my 002rack hooked up over the weekend and when i opened the session i've been working on (mixing), there's is now a pretty extreme latency from the time i hit play and the time the playback starts, as well as a drastic latency between the audio and the green meter movement on the mix window. the meters move really choppy as well.

the program as a whole seems to be dragging.

now, there are quite a few plug-ins on the session, BUT it worked fine w/ my MBox, so i don't understand why it's not with the 002rack...

here's the set-up: 002 + external Lacie drive > firewire hub, firewire hub > Mac G4 powerbook (512 ram, 1.4 GHz processor)

things i've already tried:

- changing H/W buffer and DAE playback buffer sizes (raising, lowering, etc.)
- downloading updated Firmware for the 002rack
- taking the hub out of the equasion - connected 002rack direct to laptop, and the hard-drive to the laptop via USB. also tried plugging the drive directly into the 002rack.
- checked to make sure the energy saver settings in the system prefs. were correct
- made sure my drive was formatted correctly
- bunch of other shit i can't even remember right now

i have the option of installing ver. 6.9 of LE, but can't see how that would make a difference, and i could also install 7.0, but it will cause problems with my Waves plugs (right?).

i would be grateful for any ideas some of you may have. i spent an hour and a half on AIM with a Digidesign course instructor last night, and couldn't figure it out.

-Ryan

[Recycled_Brains]

I forgot to mention that i'm running Panther 10.3.7.... maybe that'll help conjure up some ideas.

stumped I am.