What is ASIO and is it any use to me? (xfi)

ASIO is a windows interface for low-latency multichannel (proper discrete multichannel not the 5.1 encoded nonsense) recording and playback.

It would only really be of use to you if you were using pro audio applications/editors/sequencers.

That said, plugins do exist for things like winamp but all they really allow you to do is output via a different physical pair on your soundcard (for that specific application)

So for example, you could have 3 copies of winamp running all outputting on different stereo pairs.

http://en.wikipedia.org/wiki/Audio_Stream_Input/Output
 
Yeah, used for Digital Audio Workstations for low latency direct monitoring.

If your not recording/mixing i don't see of being any use at all to you. :)
 
you can get bit perfect output

Not necessarily...

One example which springs to mind is the original Creative Audigy series - all the audio went through a fixed 48Khz processing engine - regardless of the claims of 192Khz playback - they were sued in the US for it and IIRC it was fixed for the Audigy2 series.
 
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