As you can see from the table above, there is a lot of technical standards activity in The MIDI Association's working groups.
The MIDI 2.0 Working Group handles all the Profiles, Property Exchange and Protocol Message discussions. We have started work on a completely new branch of MIDI 2.0 (adding to the "Three P's" of Profiles Configuration, Property Exchange and Protocol Negotiation) which is currently called MIDI Implementation Discovery. This new branch of MIDI 2.0 has a lot of exciting possibilities.
There is a separate Transport Working Group which is currently focused on developing a network transport to add to the work already completed on USB.
The SMF2 Working Group is focused on developing a file format that includes MIDI 1.0, MIDI 2.0, notation, audio and other media in a single container.
Some of the Profiles Working Groups are self explanatory like Drawbar Organ, Piano, Rotary Speaker, etc.
One that may not be so apparent is the Orchestral Articulation profile. This is a new design that uses the Attribute Type and Attribute Data fields in the MIDI 2.0 Note On and Note Off to put articulation data directly into the MIDI Notes. There are many great orchestral libraries available, but they all have their own ways of selecting articulations so there is no standardization.
This new Orchestral Articulation Profile would allow different libraries to easily be used together by creating a clear, standardized table for articulations and including that information directly in a MIDI 2.0 Note on and Off. It would also allow writing a part for one instrument and easily switching to another while maintaining all the musically appropriate articulations.