VT, would (or could) the outputted midi have all the control nuances to capture the artists playing? Like the foot pedals? Or would it just be good for notation?
Yes, if the MIDI data was recorded from the performance, it should include Note On, Note Off, Note velocity, sustain pedal, all other controllers, Sostenuto, Soft Pedal, Polyphonic Key Pressure, Pitch bend changes and much more.
If the MIDI data was transcribed by hand though, then expect all notes to probably have the same velocity, and few if any other events to be included. That's not a limitation with MIDI, mind you. That's just a limitation in the manual transcription method.
HTH some.
Trev