Ok i'm late but maybe this will help people in trouble like i was.
First of all, ASIO drivers only run 1 aplication. What does that mean? You can have no youtube/itunes/windowsmediaplayer/nothingthatoutputssounds when you run cubase. If you do he wont recognize the output and puff, no sound.
Same applies to inputs. So if you are using skype or GuitarRig or something, forget it (Even through you can put guitarrig as a plugin in cubase).
After that its easy.
Simply start cubase, start your project and add some audio tracks.
Then go to options and try to find his screen www . musik er-board.de/attachments/f79-recording-forum//f718-know-how//f448-recording-starter-rec//211433d1332359120-zoom-b2-1u-cubase-le-moechte-aufnehmen-es-klappt-jedoch-einfach-nicht-unbenannt.jpg
By the way, use ASIO4All, the latency will go from 100-200 to 15.
You should then define your alesis inputs and outputs on that screen.
If there is still no sound coming out or no input, open the option screen again and try to find something called VST Connections.
If you find that, you know what to do