In short yes, and avoid omni mic at all costs. Go cardiod mic if possible it should pick up waaaaaaaay less surrounding noise.
Here's a range of vocal booths:
http://www.dolphinmusic.co.uk/?page=shop/manufacturer&manufacturer_id=176
http://www.vocalbooth.com/
Listening now on earphones at work..
Like the choon. Would say the drum's aren't grabbing the attention. Programmed I'm assuming, letting the song down in a big way, sucking the dynamics out of it.
But.. a great song, love the hook.
i use similar to you but without the mixer, just a bank of preamps into amaudio fw1814 and find I can almost eliminate the latency by setting the buffer to 128 under buffer size in the playback engine menu under setup (i think). what's your buffer set to?