I am pretty new to MIDI recording. I use an interface for live audio recording. In the past, I've normally worked with live instruments, so no issue there.

I have an Oxygen 8 I picked up years ago that I never used that I'd like to start trying out, but I'm getting annoying latency from it. Will some kind of interface solve that? What is recommended, budget?
have you checked your preferences? a lower buffer will give you less latency. that's always worked for me...
^ This.

Also, what sound card / interface are you using now? Generally, only the ones designed for recording will give you the best latencies.

I'm a fan of M-Audio myself. But post back and tell us what you are using now, and if necessary for you to get something else, what your budget is. You can get interfaces for very cheap up to stuff that basically works out to $500/channel. A LynxTwo, for instance, has four ins, four outs and costs $2000. (and doesn't do midi....)

Could I get some more talent in the monitors, please?

I know it sounds crazy, but try to learn to inhale your voice. www.thebelcantotechnique.com

Chris is the king of relating music things to other objects in real life.
Thanks for all the help. As for MIDI, I'm using directly into my USB ports. An onboard soundcard. Nothing spectacular. For live output, I'm using an M-Audio Mobilepre. Absolutely nothing spectacular, just some gear for some hobby recording (and honestly, the quality you get out of a mobilepre is so great anyway, who cares!)

I'll check out my preferences. I'm using my school's license for Nuendo 4. I wonder if they have a manual of some sorts I could borrow..
Update. It seems that it RECORDS at the correct timing, but the playback is delayed. So recording is really difficult..