Update:
I haven't done much with PlayoutONE lately, because my other setup was breaking and I needed to fix it.
I finally broke down and upgraded it to Windows 10, which was a long and arduous process compared to installing 7, and now it's working again.
Interestingly, though, PlayIt Live actually feels noticeably faster and more stable, and so far there have been fewer, if any dropouts in the audio. Perhaps it's optimized for 10 somehow, or maybe 10, despite all the bloat, is actually more efficient than 7?
I will note that PlayIt appears to be 32-bit. Why, in this day and age, would something like that not be 64-bit unless it's very old? This could possibly explain why it runs so slowly despite throwing 32 GB of RAM at it (without special tricks, 32-bit apps can only address a maximum of 2 GB).
c