LGPT W32 MIDIDELAY setting has no effect. Bug?

MIDIDELAY is supposed to delay midi output by X milliseconds so that it lines up with the samples, but it appears to have no effect.

<MIDIDELAY value='500'/>

My config.xml:

<CONFIG>
  <FULLSCREEN value='YES'/>
  <SCREENMULT value='2'/>
  <AUDIOAPI value='MMSYSTEM'/>

<MIDIDELAY value='500'/>

<BACKGROUND value="22204A" />
    <FOREGROUND value="FFF18A" /> <!-- text and cursor in cursor -->
    <HICOLOR1 value="91FF75" /> <!-- row count in song screen -->
    <HICOLOR2 value="FF433D" /> <!-- cursor-->
  </CONFIG>

Any other Windows users try this and have the same problem?