I'm having the same problem, but I had it with the 2.0 version as well. I've had this software (and the absolutely beautiful keyboard) for a week, and I still can't use it.
Could it be a Vista problem? I also use several spyware and antivirus programs. Those can definitely slow performance, but could they conflict with this software in other ways?
I want to love you, Analog Factory. So, so bad....