Win7 and ASIO

Background:
2 days ago I upgraded to a new PC and fro WinXP to Win7 x64. Before installing my audio card - M-Audio Audiophile 2496 - I wanted to make sure everything was working with the on-board audio support: Realtek HD Audio. Everything was fine using the default support but when I installed ASIO4ALL I ran into an "Only one application at a time" restriction - Windows Audio or my music software. This was not a problem under WinXP.

Question:
Is this a limitation of I don't need to use ASIO4ALL, but I'm not sure what my next move is if I can't use ASIO at all.

I've run into problems with ASIO4ALL in my recording DAW system and had to remove it due to conflicts and causing problems to my recording device (a Focusrite Saffire Pro 40 firewire connected unit).

I don't use my PC's sound card (a SoundBlaster) with my recording software (Sonar) so there is no conflicts with ASIO on my recording device, but not with the SoundBlaster.

If you are going to use this card as your PC's audio sound card, it's best to disable the Integrated Audio in the BIOS so you don't have any conflicts.