G'day m8,
Your delay problem is probably (and anyone please correct me if i'm wrong) because you have Sonar's "Input Monitoring" enabled on the track you're trying to record. This function will enable you to monitor your input signal, but only after its passed through Sonar's audio engine, and will be affected by some latency which can be adjusted in the Audio options but will be limited in some way by your hardware.
Your best option is to not use "input monitoring" and setup your kXDSP so that your "mic" gets monitored with a nice dose of reverb but goes to sonar clean...
Check out my setup here.....
http://www.geocities.com/kxsonar/kxsonar.htm
just whacked this together tonight, so hope it's OK
hopefully this can help!
As for getting more Body in your mic, i'd check the gain of everything first before putting an EQ on it, but if u must you can always add and EQ plugind into your Mics signal path and just bypass it when recording..
admk