Howdy Scalphunter, welcome to the site.
I have a PODxt, using the USB connection, and when recording from into WaveLab I have to set the preferences in WaveLab to point to the PODxt when recording vs. the sound card. Perhaps you have to do something like with GT?
Also, in the windows volume settings, you can choose properties from the menu and you have two options, playback and recording. You could check that also.
Hope you get it working, its a nice toy.