MeowMidi2Mp3 is an easy-to-use tool to convert Midi to Mp3, Midi to Wav, Midi to ogg. It allows to change the rate of the output (3 rates available), the number of channels (mono or stereo) and if you want the volume.
MidiWav Recorder converts MIDI files to Wave and MP3 files. You can record to Wave MIDI playback only or mix it with Microphone input. Midi2Wav self-adjusts sound card mixer. Midi2Wav is also a full-feature MIDI and Wave player.