Hey Jeremy and all!
Tried your solution, I think it improved things a little bit, but not too much. It seemed as if there were smaller amounts of xruns, but still unreliable for recording things.
However, I think I stumbled upon a viable solution. Harry advised me to turn off wifi. I did this using iwconfig eth1 txpower off.
And what do you know? Not a single xrun in 20 minutes. I played around with stuff, recorded - all good. YAY!
The only problem is that when I do iwconfig eth1 txpower on, XWindow crashes and I am left with no graphics and with even no ability to copy what the black screen says. So now I will attempt to turn off wifi module in kernel and then loading it back up and seeing whether this is as good for audio performance and then turn it back on and see if this crashes my system again or not.
Will keep you updated and everyone huge thanks for helping me out with this. I am hoping this laptop will allow me to do lots of good tunes.
L.V.