Using Audacity as a webcam pre-recording processor

Bought a Logitech Pro 9000 webcam. Great picture…sound is terrible. Am on windows XP. have Soundmax soundcard. Bypassed webcam onboard mike and am running a Shure mike through an ART Tube studio pre-amp into soundmax…selecting soundmax as mike input on webcam. Sound is significantly better, but lacking in effects. Any way to put Audacity somewhere in the loop and use it as a real time effects processor (pre webcam)?? Am thinking of buying another pre amp with some vocal presets, but wondering if I can use Audacity instead.

Thanks

Audacity is not a real time processor. It records and plays in real time and does everything else, the filters everything, in post production.

Koz