I have been having a strange midi issue with Cubase5 for quite some time now. When ever I play a part out on my USB midi keyboard the data records in Cubase a little early. At first I figured it was human error but when I record midi data in Reason I have no issue’s, the notes always record as played. I really could use help with this because it is seriously starting to affect my work flow. Thanks
Try checking “use system timestamp”
Actually, sounds more like the Emulated Ports are needed.
Timestamp seems to have worked thanks “Split”. I am curious about the emulated ports solution though. I could not find anything about it in the manual/s (I also searched for port filter). Thanks guys for helping me fix the issue. 
In case you’re interested, there’s excellent article in Sound On Sound about this issue: Solving MIDI Timing Problems
Nice Find Jarno!!! Thanks a ton with that one, definitely answered some questions…I Love This Forum 