What are my options for playing simultaneous audio on an Android device with the least amount of latency? Am I going to get anything half decent out of the canned SDK, or i
I don't have any Android experience, but I've written similar things for Windows Mobile. The devices themselves are certainly capable of mixing multiple sounds in real-time with a low latency (under 25 ms), although by "multiple" I mean maybe 4 or 5 (and not 30 to 40). However, I was only able to achieve this satisfactorily by writing my own code that did the mixing internally and accessed the low-level audio playback API only for playing the final mixed output. The higher-level ways of playing sounds in the .Net Compact Framework are theoretically capable of polyphony, but in practice they work horribly (lots of glitches, stuttering and distortion).
I suspect that the Android audio SDK has the same problem, so you may have to write your own.