It's a bit surprising that sound latency on Android is as bad as it is. It's not just apps for audio production that suffers, most any kind of audio toy is useless.
For people who want to tinker with audio on Android, it's possible to swap AudioFlinger with PulseAudio[1] for lower latency (20ms vs 176ms)[2], but so far you have to build and flash your own AOSP image, so it's not exactly plug and play.
> but so far you have to build and flash your own AOSP image
I think you're going to see more people doing this, with the Nexus devices and the Transformer tablet. Maybe I've overestimated the popularity of the ASUS-branded hardware, but I have always had the best of luck with my TF-101 getting current ROMs and updates from the third-party vendors like TeamEOS.
Now that TeamEOS is gone, there's a void, so more people are probably going to learn to build the ROMs. There are even people picking up the torch[1] with the TeamEOS source code, taking their branches and picking up where they left off.
I know as consumers, we all want vendors to support their products... but as members of Open Source community, I see it's irresponsible to depend on them exclusively for forward motion, progress, and updates, and for freedom's sake it shouldn't be an impossible proposition to compile and flash your own ROM. (Just think if you bought an x86 computer with Ubuntu or Fedora and you couldn't re-OS it.)
For people who want to tinker with audio on Android, it's possible to swap AudioFlinger with PulseAudio[1] for lower latency (20ms vs 176ms)[2], but so far you have to build and flash your own AOSP image, so it's not exactly plug and play.
[1]: http://www.freedesktop.org/wiki/Software/PulseAudio/Ports/An...
[2]: http://arunraghavan.net/2012/01/pulseaudio-vs-audioflinger-f...