What's the best way to decrease latency on the output of my Alesis Photon x25 onto FL Studio 7 running Windows Vista? (Does anybody out there know what I'm talking about?)

It may be your computer spec not provided in the question description :(

Latency would point to your machine not being able to process the inputs fast enough. I would look into a processor/memory upgrade to your rig.

Alternatively, and for less cash, your other option is to do your best to close memory/cpu intensive processes while you run FL. You can do this through the task manager.

32-bit system, 1gb RAM, Intel Core 2 Duo processor T5470 @ 1.60 GHz

Even at dual core, the 1.6 Ghz processor worries me. You processor is under the socket 775 type. I would recommend looking into an upgrade there. Vista also BEGS to have more than 1 gig of RAM. With all of the bloat in the BG that vista adds, you could very well have little resources to run FL.

Drivers are always a good thing… be sure you have the latest ones.

All the best.

BG?

BG = background. Vista runs a lot of programs in the background (compositing layers/ security crap). All of this takes a toll on system memory available (not to mention memory addresses taken up by the graphics card). You may be left with very little if all you have in there is 1 gig.