I can record hardware instruments without a problem through the sound card
(M-Audio Fast Track Ultra) But when I try to record a VSTi Instrument I GET the right signal in the speakers and the peak meter in the Track Editor moves but not the recording meter and no sound is recorded. Please help me. Im stuck here.
I think there might be some kind of misunderstanding here. Are you trying to perform any audio recording of the VST instruments within the program (e.g. via the "Stereo Mix" selection of the soundcard mixer) while the VST instrument is being played back? This shouldn't be necessary and will just result in a deterioration of the quality. For VST instruments, you don't need to go through this kind of procedure. The MIDI tracks with the VSTis on will automatically be part of your export when you mix down the project to audio. Is this what you are asking about?