If you're on a Mac, why not give Ardour a spin? It won't do MIDI sequencing inside of the program (you will need Ardour 3, which AFAIK only runs on Linux), but

If you're on a Mac, why not give Ardour a spin? It won't do MIDI sequencing inside of the program (you will need Ardour 3, which AFAIK only runs on Linux), but it's highly usable for everything else. And it's open source :)