But it is challenging to achieve that while also maintaining interoperability with the millions of existing products that use MIDI
Why would you want to do this we need a new standard for New equipment.
If people want to hook up old equipment to it let them use an adapter. Micro controller chips are cheap these days and should be able to handle the task, So power would be a good option to include.
Trying to keep comparability with a 31250 baud standard is just crazy. We have large high bit rate samples now,
Transferring Multichannel digital audio would come in handy though not at 31Kbps
128 has to go 8bit(7+P) was so 1983 we need 32767 16Bit(15+P)
Does it really take 10+ years to update the standard ? there was Mention of MIDI 2.0 in 2005
Please hurry up or expect Europe to come out with it's own standard.