Since I installed the newer version of Audacity on my Windows 7 computer I found a few more things about using Audacity as a simple “on the fly recorder”.
When exporting audio It does NOT like pinning meters on the tracks. The Mp3 output will crack and hack a bit no matter what setting for the Mp3’s. So All you need to do is reduce ALL Audacity track outputs down about -3db. That is normally what I have to do with fussy DAW’s. Audacity will still output a higher level mp2 and you can feed it back again into Audacity and it will not crack but that is not necessary if you don not have too high of output level overall…
Also, I found that using a latency offset of 149 is better than 147. It’s real close but it’s close enough I can see my playing is worse than the accuracy.
I hope this helps for anyone using the MG stand alone for live or home stereo use.
My studio DAW is Sonar Producer.