Audio latency problem - Parallels 10 with OSX Lion VM (in Mavericks)

Hi gang.

Kinda going nuts on this one. I want to upgrade to Yosemite on my main audio editing iMac but at this point I must remain on Mavericks because of one 2 track audio editor app that I use each day that have major GUI issues in Yosemite (plus went out of business 3 years ago with no further updates). The OSX app is Bias' Peak 7.0.3. I first set up a Mavericks VM to test if there would be further GUI issues (and there was) and so I installed Lion within a new Parallels VM and test Peak again inside of that. The GUI issues were gone, but in BOTH VMs, the audio playback of the waveforms and the sound I here were pretty close upload boot up, then went out of sync soon thereafter where the screen and the audio through the speakers was off anywhere from 100-400 milliseconds.
I also installed a hardware drive and used a USB interface to try to avoid using the Built In Output, but it also was way out of sync. Within Peak, I have adjusted the buffer and other settings with no difference. Plus, I have adjusted every audio setting in the config of Parallels to no avail. It's using the AC97 setting to get out of Parallels into the base Mavericks OSX. Is there some other software adjustment I can make to use maybe more of an HD driver?
As a point of comparison, I use Windows 8 with an audio app to draw lyrics for karaoke screens and that always is 'dead on'.