I dont mean to hijack this thread, but the more i try to understand digital/analog hybrids and all this stuff the less i care to get what i want out of a recording setup. Its hilarious to me that in the year 2007 with all this shit people know about recording there is no easy way to record something the way you want. There is always a ton of hassle and then you end up sacrificing some flexibility in the end anyways. Actually i guess it ISNT hilarious to me, more painful really because it shouldnt take a million thought out calculations and strange processes and wiring schemes just to record a lousy tape while the computer records it.
In that case I suggest you complain to God because what you're asking for is not physically possible...
If you really want a flamewar, what horrifies me is that people are still using Windows in 2007. And for things which are actually important, what's more. And people are willing to accept crashes as a normal part of their computing experience.
It is UNBELIEVABLE how hard it is to have something be easy enough to use yet flexible enough to allow you some room to alter and adapt your recorded work. There are a thousand ridiculous pitfalls that logic should have eliminated in the design phase long ago.
Two points: firstly, the machines were not designed in 2007, and secondly, what you are using them for is not what they were designed to do, plain and simple. You
could probably design something to do this, but you'll never eliminate the delay completely and get the same effect.
You could crank the tape up to some stupendous speed to minimise the delay, but you'd wear the components and the tape out very quickly. If you move the heads very close together, you'd need custom heads like the ones in three-head cassette decks, but you'd have signal bleed-through if they are close enough to make the delay unnoticable.
Now we come to the actually helpful, practical suggestions. What you might want to investigate are machines like the SPL Machine Head (now discontinued) which do tape simulation.
There's another one, a Neve unit I believe - the name of which eludes me - that uses a record and play head back-to-back, i.e. magnetically coupled. That has no delay whatsoever, but it's not actually recording to tape so the effect is not going to be quite the same.
Finally, what a lot of people do is record to the DAW and mix to a two-track tape deck. You can then bounce it back into the DAW, DAT, CDR or whatever your final stereo mix would normally be recorded to.