Your latency is also going to be affected by buffer sizes. The lower your recording buffer sizes are, the lower your latency will be. You will have to hunt around your preferences to find the setting, but you usually can set it from 128 samples up to 2048 samples (usually 128, 256, 512, 1024, and 2048). Also, the lower these settings are, the harder recording and playback will hit your CPU. If your settings are too low for your CPU to handle, you will get dropouts, pops, clicks, etc. so experiment.
Ultimately in Pro Tools M-Powered I use 256 samples for recording and 1024 samples during mixing (so I can use lots more plug-ins). That gives me a latency during recording of 4ms, which is pretty good. 10ms isn't bad either though. With my old sound card and SONAR I was running and 12ms and never had a problem.