MIDIRenderer

MIDIRenderer is a MIDI rendering software that allows you to convert
MIDI to MP3, WMA, OGG, FLAC, APE, AMR or WAV files. It is often used when
you need to playback MIDI composition on the portable player, car audio
system or burn MIDI files on Audio CD.

Unlike the other similar programs MIDIRenderer provides direct MIDI rendering to
waveform without using sound card and allows you to use any high-quality instrument
sound instead of Windows General MIDI set.

Whats the benefits you can get from direct conversion?
Well, you will avoid background noise from sound card, you not need high priced sound card
for high quality output and conversion will be much more faster than real-time recording.