I've had this for a long time (and yes I know it's old), but never used it as a Midi Controller. I thought it might be interesting to check it out, but not sure if it's worth looking into setting up or not? (I haven't looked at the manual yet)
 
If someone has it working well, I'd like to know any details on setting it up in Cakewalk. 

Check out page 50 of the RP12 manual. I have the RP10 and IIRC you can make each pedal as a simple CC toggle (the "3 TOGGLE CC 0-127"), the CC pedal is the only one that will do a full range.
 
Be advised, I am sure that the design is similar to my RP10, and the pedal is actually an LED paired with an optical isolator (inside a small cardboard box, inside the unit, under the pedal). The issue is that the seal on the vertical support (the "open top" of the internal cardboard box) not only lets in dust, but also light. If it has been sitting for any period of time, you may need to take it apart to clean that portion out (especially if calibrating the CC pedal is problematic). Not the smartest engineering decision, but it is what it is.

Hi Michael, thanks so much for the details/info.
The manual is a bit convoluted when looking at pages 50-54, and I'm not convinced if it's worth going through all that hassle to set it up. The plug and play stuff works nicely for me.
I like the simplicity/effectiveness of the iRig Stomp I/O and might look into getting something like this: http://www.ikmultimedia.com/products/irigstompio/