Emu XL-7 & MP-7 User's Group

I am completely new to software sequencing(except for reason), so 
bear with me. What I am trying to do is: use my midiman keyboard to 
trigger the MP-7 and trigger Cubase/VST instruments. I only want to 
use the MP-7 as a sound module/controller(knobs,etc.) if this setup 
is possible.  

Ok. I have an extremely bottom-end setup. No awesome midi interface, 
just a serial to midi(in/out) cable. An MP-7 connected to this(in 
and out). My cables work because I tested it with e-loader. A crappy 
gaming soundcard(Hercules Game Fortissimo). I do have a Soundblaster 
I am going to install though. After spending an entire day with SX 
1.03, I cannot get my MP-7 to work through midi. 

I followed the docs. I set my soundcard's in/out in cubase Device 
Setup. Midi Thru is on in cubase and local control is off on the MP-
7. In the midi track I use the pulldown tab to set my soundcard 
in/out and midi channel 1 is selected. But the problem is, the out 
on my soundcard acts weird. When i play i dont hear it echoed back. 
If I use the microsoft wavetable out, i hear my track played with 
the wavetable piano. 

Also if I choose my soundcard out and play the pads, it constantly 
sends midi info into the MP, but I still dont hear anything. The red 
midi light on the MP stays lit as well as the red light on the 1/A 
knob and in cubase the track input stays on even after I let go of 
the pads. It stays this way until I change the out. Maybe its my 
soundcard? I am lost. Any help would be appreciated. Thanks in 
advance.