Geoff is correct, and I apologize for any confusion: Roland GS Standard is different from General MIDI Level 2.
In my original reply, I just wanted to point out that although the Microsoft GS Wavetable Synth doesn't support General MIDI Level 2, it does support something other than General MIDI Level 1, namely Roland GS Standard, in case you happened to be interested in playing around with that.
In the Roland GS Standard only controller 0 is used to select a bank.
In General MIDI Level 2, both controller 0 and controller 32 are used to select a bank.
(By the way, controller 7 is for setting the volume of the channel and isn't related to changing the bank and program.)
Each standard is an extension of the General MIDI Level 1 program names, and typically uses the bank select messages to select a "variation" of the base General MIDI Level 1 program name. Looking over the list of program names in each standard (see attachment), I see similar names appearing in the same order, but the different standards use different bank number values.
(Also, in case you missed it, the Microsoft GS Wavetable Synth is in fact kind of lazy in its support for the GM System Exclusive messages, all three of the GM System Exclusive messages I mentioned turn on
the Microsoft GS Wavetable Synth's General MIDI Level 1
mode, even the off