Yes and it is called latency.
http://en.wikipedia.org/wiki/Latency
Latency = delay wether it is Midi or audio or Cubase or Sonar or Logic or Garage band whatever and that is what this guy is hearing. A delay between playing something, recording it and monitoring it.

There are a bunch of causes for it wether it is due to a clog during monitoring or recording, it doesn't matter (until you try and work it out) it is still manifest as a delay during over-dubbing called latency.

With every system I have trouble shot, the problem has been during recording. Now maybe Cubase is different from Sonar, Logic, garage band, Wave lab etc however when I have worked out the kinks with these programs the problem has always been buffer size, wether I'm using a very expensive RME audio card or a cheap soundblaster / onboard sound chip. Now if Cubase does have zero latency between playing and recording (Im not sure the laws of physics permit this as electrical signal conducts at a finite and measurable speed as does the polarization of transistors or magnetic media) as all these processes take time, then yes the problem has to be with monitoring. However it is still latency !!