The Asio Latency Compensation does not effect the monitoring of your Audio in any kind. It only effects the midi note positions right after you record them with a masterkeyboard or any other controller. I also does not have any effect on allready recorded midi track or synchronises audio and midi in any kind. It only comensates for your human nature of compensating latency yourself by pressing the notes earlier.
If at all Midi needs to be delayed by the output latency of your driver and not your input latency
Once again this function does Not effect the playback or the monitoring of any kind. Only the Note position during recording. Once the midi notes have been repositioned this function has no further effect.