If you are using iTunes 7.0 or higher, it is important to set the sample-rate in AudioMIDI BEFORE OPENING ITUNES. If you have iTunes open, close it, then set the sample-rate in AudioMIDI.
Elias/Gordon, what should the word length be set to in AudioMidi when primarily playing 16/44.1 files - 2ch16bit or 2ch24bit. Does the word length setting matter at all?
Also, there is a volume slider below the sample rate setting in AudioMidi that got me confused. What should that one be set to? What does this volume slider do?