From Media to MP3

I assume you mean WMA vs MP3? WMA is Windoze version of a compressed file, it is much like a MP3, in general MP3s are not as compressed, but it does depend on what compression level you use on each, you can make an MP3 64 kbs to stream, or 32kbs, or 192 kbs, the later will not stream easy, but will sound better for downloading, WMA works very similar, from a very lo-grade, to near CD quality, (take with grain of salt) to do file transfer WMA works better than MP3 in general, but again that depends on the file size and the service limitation you have.

Now if by media player state ypu mean in cakewalk form, then that is another issue, it must be all audio, any Midi must be bounced to audio. then once it is audio then export it to a file as a wave file and use a good conversion program to make either a WMA, or a MP3.