Holy Miracle of Miracles, Batman, this Melodyne v4 Studio thingie is like, out of this world!
I just threw it at a mid-to-late-80's bossa nova tune that has been languishing for decades (due to not having an archtop jazz guitar for a 25 year gap in between, and now being out of shape on that instrument), and it not only caught all of my slides, staccato moves, grace notes, bass runs, and other nuances, but it also correctly caught all of my flubs.
The original was recorded to cassette tape directly from the output jack of the guitar, me being clueless and all back in the day. Very muffled sounding, and not very articulate. How Melodyne could pick (no pun intended) through all that muddle is beyond me!
I will need to do some minor cleanup here and there, but mostly of the accurate replicas of my original mistakes and missed notes or beats.
Rendering this MIDI via Impact Soundworks Archtop Hollowbody Guitar library was really an amazing experience.
I think MIDI has had a bad name for a long time for all the wrong reasons. It's all about the performance, and MIDI is just another way of capturing that.
I would prefer more than 127 steps of discrete values (most MIDI tools don't support the two-byte format), and more controller support along with better ergonomics for same, but having Melodyne as an intermediary editor for poorly rendered (or badly played) performances that are difficult if not impossible to re-do, is just something that I couldn't live without.
Melodeon really does a good job of capturing dynamic levels and even distinguishing when a frequency's level is contributed by a tonic vs. a harmonic (when dealing with polyphonic material).
I also converted an alto recorder part to flute using Melodyne, and a bass guitar part to upright bass. I'll eventually re-record them with my real instruments, but already the Melodyne+MIDI approach has given me more professional and inspiring results than my original takes from 30 years ago.
So now I have used the new percussive polyphony mode on archtop guitar. I haven't yet gone back to some of my old digital piano tracks to re-convert them using this new mode; nor have I tried something even more challenging, such as using the sustain polyphony mode on some old CZ-101 and Juno-60 synth pads.