Nope. First, read the RS manual. Next, if what you say were true, there would be no difference in output between headphones, an A/V processor set to analog stereo, and an A/V processor set to a surround setting. There is massive difference, and only by running clean analog audio post-console can one eliminate the audio lag. Finally, there is nothing the software can correct for while still playing live music, because the delay is the delay between striking the string on the guitar and hearing the sound via the speakers--unless they somehow incorporate a time machine that can check the near future to see what you're going to do with your instrument, then pre-emptively output the sound before you pick the string, there's nothing to correct.
If you want to learn more about the subject, search the forums; there are several in-depth threads, with wiring diagrams and everything.