I have totally given up on the Elektron way of midi sequencing as it just doesn’t work for me either inputting/recording, or outputting.

Octatrack being able to load midi files was one of my three feature requests that I wanted since day one, none of which have ever transpired; when asked was basically told to go buy a standalone midi sequencer.

Personally I’ve gone with an Akai MPC-1000, which handles midi sequencing and some additionaly samples / polyphony to beef up where the Octatrack is lacking; and vice versa.

I think I would recommend going for the 1000 over the 500; as the benefits of the 1000 really outweigh the minimal beneifts of the more compact 500. YMMV.