i've had problems with mine, and i've come to a conclusion that its the ua-5, it transfers digitally fine, but not directly from mics>ua5>pc, its weird, i've gotta call oade's here soon, but i have a show friday so i'm gonna wait till next week.
i take it you installed the driver software. its pretty self explanatory, read everything and do exactly as it says. i tried just installing it, and it didn't work, i had to start over. follow that, and in you recording software make sure you select the right sound card. In wavelab, you have to select a recording source, and playback. Do not select playback, cause its digi modded and can't send to the ua-5. it should work, its really self explanatory if you install it exactly the way it says to. good luck man, get it working. peace.
Matt