The other nice thing with Ableton MIDI clips is that you could open up the envelope section and have fun painting envelopes with the MIDI information. In the example above, I did painting of pitch bend information on the incoming MIDI stream. That means that there was this acid-like glissando effect that worked out really well with the synthesizer I had wired for this midi track. So if you want to make acid sounds with Ableton Live and MIDI, this is one technique.
You could do all kinds of other experiments, just open up various MIDI controller parts and paint envelopes for the loop. I’m a big believer in experimenting out new sounds, and this is one example where you are entering another universe sound-wise, doing stuff that maybe nobody else has done yet.