You're never going to have it be EXACTLY no delay. That's just a function of how everything works. It's practically impossible. If you get a PCI card (the kind you install inside a desktop computer) you'll get less latency (pretty close to 0) than you would going over USB or firewire, but you'll always have some issues somewhere. A good interface will compensate for it some so that you won't notice it. Usually you can monitor directly from the interface so that you are getting zero latency. Cheaper interfaces will have the signal run to the computer and back first, which is where that latency (delay) kicks in.
The only dynamics I've ever seen people record with are an RE-20 or an SM7B, both of which are several hundred dollars. The other mics people have recommended will probably do well, too. You can probably try a lot of them out at Guitar Center, though I don't think they normally stock the v67g (which is unfortunate). Just do yourself a favor and stay away from the 57/58. They're boring and not worth it.
I don't know why they call it phantom power, but it basically just means that they send a little power back up the wire to make the mic work. Most, if not all, of the M-Audio interfaces (and most other decent interfaces) will have that for the mic preamps.
