I am currently using a 30 day trial of this. The tone isn't bad actually but there seems to always be a delay from what notes I hit on the fretboard to the speakers, is there any way I can fix this?
Yes. You may need a low latency sound card. What are you using now?
In the meantime, you can try downloading a freeware ASIO driver which should speed up the response of you exisiting soundcard for here: http://www.asio4all.com/
its free, so if it doesn't work too good, don't complain!
When you setup Guitar Rig souncard properties, select the "ASIO4All" driver.