I hope that you can help me.  I have a MIDI track set with the Cakewalk MIDI Arpeggiator and I like the pattern for the most part but I would like to make a few edits.  I thought there was a way to render or "bounce" the track so that Sonar will convert the chords I am starting with to the actual Arpeggiated MIDI data.  However, I can't figure out how to do this.
 
Can you share with me how I can accomplish this? 

Try bounce to clip(s) instead of bounce to track(s)

Try selecting the MIDI track, then Process>Apply Effects>MIDI Effects.
If you want to keep your original MIDI track, uh, original, make a copy and apply the effect to the copy; mute or archive the original.

I assumed it was the integrated arp in in the track inspector. Yeah, apply effect is needed for the arp MFX.

My software is so old, Steve, that I didn't even know there was another arpeggiator.

Thanks for the responses so far.  I should have clarified that I am using the arpeggiator in the track inspector which is set at Latch and As Played Circle.  When I bounce to clip Sonar just renders the original chords.  From the main menu I tried Process, Apply Affect but MIDI effects is greyed out, even when I highlight the MIDI track and the clip.  So unfortunately the suggestions so far haven't worked out for me.
 
Thanks again for any ideas you can offer.

I forget if enabling MIDI output on the VSTi and recording that as the input to another MIDI track will capture the arpeggiator, but should. I had to resort to that for VSTis which generated chords from single key inputs.

Bounce to clip has always rendered the arp for me, 
 
It was being triggered by block Midi chords which, when bounced to clip, became discrete single notes and the arpeggiator also became unlatched after the bounce.
 
I found this by accident as I didn't want it to happen