Thanks, that was some extensive resource navigation. I implemented most of the above prescribed procedures with the exception of messing with the BIOS settings.  While I didn't get a fix, I did get familiar with adjusting various performance settings on Win 7. For example, I stumbled onto the program compatibility options, "run programs made for previous versions of Windows." In desperation, I switched the Line6 programs to run with Win XP settings; but even this didn't do the trick! 

Obviously, the onus is on Windows 7, seeing how other users have experienced the same problems. I did test this gear on other pcs, with other Win OSs; and it worked. Would be great if Line 6 support found a way to upstage microsoft with a fix. Awesome Apps that work on riddled Operating Systems - Imagine that!  Keep plugging away. Thanks for your attention.