I use a Gateway Nv5207u, and ASIO4ALL, believe it or not, and it's headphone jack doubles as an optical out. Latency is fantastically low. The laptop is my sound module, I've used all kinds of high-cpu-and-ram eating instruments simultaneously with little trouble. The latency is negligable, for real, the instruments feel tight to the drums. However, I'm stuck to two channels of output. That sucks balls in and of itself, but I can deal with it for now. MTC is my friend.
I saw a couple of other laptops on google that had this same soundcard, a Conexant something or other, I can't remember just now and It's not listed by name in the device manager because I use the proprietary Windows 7 driver.
Check out your hardware. It'll do in a pinch with that ASIO4All, even analog, maybe 24 bit. Hey, sometimes we gotta do what we gotta do until the upgrade can pay for itself.

man I am baked right now....