ModPlug tracker has its pros and cons. For one thing, the interface is relatively simple and easy to use. It's Win-based which is both a pro and a BIG con . And it's option to import from midi and export to wave, midi or MP3.
Big cons are its bloatedness, with VST and mixing options. And it's uncanny feature to be non-standard compliant, as in: you can do stuff in MODs/S3Ms which you shouldn't be able to.

If I could I'd write a better tracker myself, but I'm no coder. So I'll just have to wait for Impulse Tracker 3, which is in production right now. In the meantime I'd better get used to IT2.