What is the lowest possible latency for live streaming HLS that is reasonably expected?

I have Adobe Media Server setup to stream through livepkgr, and can stream HLS audio from an iPad. I am using LiveEncoder 3.2 to publish the stream. I have updated the Event.xml to the following:

<Event>

  <EventID>liveevent</EventID>

          <HLS>

                    <KeyframeIntervalPerMediaFile>1</KeyframeIntervalPerMediaFile>

                    <MediaFileDuration>1000</MediaFileDuration>

                    <SlidingWindowLength>1</SlidingWindowLength>

          </HLS>

  <Recording>

    <FragmentDuration>1000</FragmentDuration>

    <SegmentDuration>1000</SegmentDuration>

    <DiskManagementDuration>1</DiskManagementDuration>

  </Recording>

</Event>

I have followed the online guides as far as I can tell for the other configurations and publishing. Everything is working fine, except that the latency is right around 10 seconds or more right now. I would like to get this down much lower if possible. I haven't been able to determine any other configurations that may help me reduce the latency. If I go any lower on the durations it really starts cutting out.

Are there any other configurations that I can tweak to reduce this latency? What is the lowest latency that I could reasonably expect?

Thanks,

lbicknese