A very interesting article that discusses what will the change from MIDI 1.0 to MIDI 2.0 bring to us.
In MIDI 1.0, all data was in 7-bit values. That means musical qualities were quantized on a scale of 0 to 127. Features like volume, pitch, and how much of the sound should come out of the right or left speaker are all measured on this scale, with 128 possible points. This is not a lot of resolution. For some really sophisticated listeners, they can clearly hear the steps between points.