Whether I use the built in iPad 4 mic or my Snowball USB mic via the Apple camera connection kit I get way to much latency to consider live use (must be at least 500 ms). I tested both mics on a completely dry signal, too. No filters, wave shapers, etc. and no other apps running.
Just for the record, I get extremely low latency in pretty much every other audio app I've used with mic input. Please help.
Running iOS 7, up to date.