Was able to get a real-time kernel working (3.8.13.26-rt31 from https://github.com/jepler/odroid-linux).
Was able to get qjackctl running and can start it with Realtime=on and Frames/Period>=1024.
This however doesn't allow for low latency
If I set the Frames/Period lower than 1024 it results in the following ALSA error (e.g. with 128 size):
ALSA: cannot set period size to 128 frame for capture/playback.
Any advice is highly appreciated, do I have to dig into the kerner driver for the Max98090 Codec for this?