After my initial post above whereby I had changed my USB cable for a better quality one I would like to retract my statement that this fixes anything at all!
It was just a fluke that the Fast Track Pro box worked fine for a day. After that it reverted back to it's normal erratic unuseable status. My PC only has USB 2 sockets so i doubt it is a socket incompatibility issue (i've tried all 6 of them). I'm going to try the box on a few other windows 7 based PCs I have access to - I'll see how it functions. If it has the same issues on all of them then i'll be returning it as faulty / not windows 7 compatible along with the Pro-Tools MP9 I bought with it and going down a different route with a more reliable manufacturer. I never had a single problem for years using an XP system with Pro-Tools 8 and M-Audio equipment so something somewhere just isn't communicating properly (but buying a PC/Sound hardware/software all at the same time means it is difficult to determine which is the offending item but most fingers point to the Fast Track Pro windows 7 drivers)
I have far more interesting things I want to do with my time instead of constantly trying to get any audio out of this piece of tat. If I find any type of solution to any of the bizarre things this box gets up to then i'll post them on here.
HP Intel i5 Win 7 64 SP1
G force Graphics (up to date drivers)
Pro Tools 9.0.5
M-Audio Fast Track Pro with up to date drivers
"Insert quirky catch phrase here"