Try looking at results from LatencyMon as well? Also might be a conflict with antivirus programs.
I'm not sure if this is how LatencyMon is supposed to be run, but I started it and kept it running while I played music. It started off fine at first, but then I got the following results:
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CONCLUSION
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Your system appears to be having trouble handling real-time audio and other tasks. You are likely to experience buffer underruns appearing as drop outs, clicks or pops. One problem may be related to power management, disable CPU throttling settings in Control Panel and BIOS setup. Check for BIOS updates.
LatencyMon has been analyzing your system for 0:04:42 (h:mm:ss) on all processors.
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SYSTEM INFORMATION
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Computer name: UNFIE-PC
OS version: Windows 7 Service Pack 1, 6.1, build: 7601 (x64)
Hardware: OEM, EVGA , 132-BL-E758
CPU: GenuineIntel Intel(R) Core(TM) i7 CPU 920 @ 2.67GHz
Logical processors: 8
Processor groups: 1
RAM: 6135 MB total
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CPU SPEED
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Reported CPU speed: 3331.0 MHz
Measured CPU speed: 3891.0 MHz (approx.)
Note: reported execution times may be calculated based on a fixed reported CPU speed. Disable variable speed settings like Intel Speed Step and AMD Cool N Quiet in the BIOS setup for more accurate results.
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MEASURED INTERRUPT TO USER PROCESS LATENCIES
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The interrupt to process latency reflects the measured interval that a usermode process needed to respond to a hardware request from the moment the interrupt service routine started execution. This includes the scheduling and execution of a DPC routine, the signaling of an event and the waking up of a usermode thread from an idle wait state in response to that event.
Highest measured interrupt to process latency (µs): 5445.491150
Average measured interrupt to process latency (µs): 1.690879
Highest measured interrupt to DPC latency (µs): 288.901777
Average measured interrupt to DPC latency (µs): 0.587705
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REPORTED ISRs
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Interrupt service routines are routines installed by the OS and device drivers that execute in response to a hardware interrupt signal.
Highest ISR routine execution time (µs): 163.842690
Driver with highest ISR routine execution time: ataport.SYS - ATAPI Driver Extension, Microsoft Corporation
Highest reported total ISR routine time (%): 0.058157
Driver with highest ISR total time: ataport.SYS - ATAPI Driver Extension, Microsoft Corporation
Total time spent in ISRs (%) 0.100407
ISR count (execution time <250 µs): 603725
ISR count (execution time 250-500 µs): 0
ISR count (execution time 500-999 µs): 0
ISR count (execution time 1000-1999 µs): 0
ISR count (execution time 2000-3999 µs): 0
ISR count (execution time >=4000 µs): 0
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REPORTED DPCs
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DPC routines are part of the interrupt servicing dispatch mechanism and disable the possibility for a process to utilize the CPU while it is interrupted until the DPC has finished execution.
Highest DPC routine execution time (µs): 424.830681
Driver with highest DPC routine execution time: ataport.SYS - ATAPI Driver Extension, Microsoft Corporation
Highest reported total DPC routine time (%): 0.682922
Driver with highest DPC total execution time: USBPORT.SYS - USB 1.1 & 2.0 Port Driver, Microsoft Corporation
Total time spent in DPCs (%) 0.802749
DPC count (execution time <250 µs): 2953467
DPC count (execution time 250-500 µs): 0
DPC count (execution time 500-999 µs): 19
DPC count (execution time 1000-1999 µs): 0
DPC count (execution time 2000-3999 µs): 0
DPC count (execution time >=4000 µs): 0
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REPORTED HARD PAGEFAULTS
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Hard pagefaults are events that get triggered by making use of virtual memory that is not resident in RAM but backed by a memory mapped file on disk. The process of resolving the hard pagefault requires reading in the memory from disk while the process is interrupted and blocked from execution.
NOTE: some processes were hit by hard pagefaults. If these were programs producing audio, they are likely to interrupt the audio stream resulting in dropouts, clicks and pops. Check the Processes tab to see which programs were hit.
Process with highest pagefault count: svchost.exe
Total number of hard pagefaults 18475
Hard pagefault count of hardest hit process: 9329
Highest hard pagefault resolution time (µs): 9205242.099970
Total time spent in hard pagefaults (%): 0.734981
Number of processes hit: 19
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PER CPU DATA
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CPU 0 Interrupt cycle time (s): 5.893751
CPU 0 ISR highest execution time (µs): 97.888922
CPU 0 ISR total execution time (s): 0.310666
CPU 0 ISR count: 320010
CPU 0 DPC highest execution time (µs): 292.216151
CPU 0 DPC total execution time (s): 2.859036
CPU 0 DPC count: 1884959
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CPU 1 Interrupt cycle time (s): 1.707439
CPU 1 ISR highest execution time (µs): 14.546082
CPU 1 ISR total execution time (s): 0.010370
CPU 1 ISR count: 3135
CPU 1 DPC highest execution time (µs): 54.785050
CPU 1 DPC total execution time (s): 0.342869
CPU 1 DPC count: 145179
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CPU 2 Interrupt cycle time (s): 2.388928
CPU 2 ISR highest execution time (µs): 163.842690
CPU 2 ISR total execution time (s): 1.142143
CPU 2 ISR count: 53182
CPU 2 DPC highest execution time (µs): 424.830681
CPU 2 DPC total execution time (s): 0.419953
CPU 2 DPC count: 115415
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CPU 3 Interrupt cycle time (s): 15.541179
CPU 3 ISR highest execution time (µs): 34.646352
CPU 3 ISR total execution time (s): 0.557189
CPU 3 ISR count: 141302
CPU 3 DPC highest execution time (µs): 217.717802
CPU 3 DPC total execution time (s): 14.256233
CPU 3 DPC count: 639716
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CPU 4 Interrupt cycle time (s): 0.628969
CPU 4 ISR highest execution time (µs): 0.0
CPU 4 ISR total execution time (s): 0.0
CPU 4 ISR count: 0
CPU 4 DPC highest execution time (µs): 221.957070
CPU 4 DPC total execution time (s): 0.102932
CPU 4 DPC count: 57535
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CPU 5 Interrupt cycle time (s): 0.944207
CPU 5 ISR highest execution time (µs): 27.878115
CPU 5 ISR total execution time (s): 0.252244
CPU 5 ISR count: 86096
CPU 5 DPC highest execution time (µs): 63.667667
CPU 5 DPC total execution time (s): 0.024598
CPU 5 DPC count: 29396
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CPU 6 Interrupt cycle time (s): 1.153449
CPU 6 ISR highest execution time (µs): 0.0
CPU 6 ISR total execution time (s): 0.0
CPU 6 ISR count: 0
CPU 6 DPC highest execution time (µs): 182.453918
CPU 6 DPC total execution time (s): 0.147580
CPU 6 DPC count: 75175
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CPU 7 Interrupt cycle time (s): 0.888916
CPU 7 ISR highest execution time (µs): 0.0
CPU 7 ISR total execution time (s): 0.0
CPU 7 ISR count: 0
CPU 7 DPC highest execution time (µs): 92.637346
CPU 7 DPC total execution time (s): 0.016164
CPU 7 DPC count: 6111
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I already have the latest BIOS version. I don't think uninstalling Microsoft Security Essentials is going to fix this. So I'll try looking around Control Panel and BIOS settings to see if I can change some settings to fix this.