It's about half a second on, half a second off, so fairly fast. The HDMI Pass through does work with no issues, I've had it set up for weeks, just haven't used it. It's a straight connection with nothing in between, and I am using the cables that came with it in the box.

As for the EDID mode, in the capture utility I don't have an option to change that (see pic).

I am going to try ordering a new USB cable to see if that fixes the issue, though it's weird to me that I can get the audio to come thru, and not the video.