I don't think you have it quite correct.
You need to have Analog Mix selected in the REC portion on the right (see the picture below for the correct settings). You have Line-in selected in REC, which is monitoring on..... Select Analog Mix.
You also need to ensure "Record Without Monitoring" is selected in the record Advanced Controls (accessed by clicking the red "+" symbol).
You need the WAVE 'ON' and 'LINE-IN 'ON' and then you need Midi Synth, Cd, SPDIF, Mic deselected in the source section.
Also be sure all effects are off and you are in 2 channel.
Lots of people use this card successfully, so it's just a matter of the correct settings.
brucek