soens
I believe I answered this a while ago. There is only one graphic for both track types, which can cause confusion when one doesn't read the help files. The confusion could be reduced by creating a different graphic for MIDI tracks, but for all we know that might not be so easy. It might involve more research and development to implement.
 
The other point of confusion is that the "Gain" isn't really gain anyway - as one might expect on a real mixer. It's more of a pre-mix fader. The real gain is controlled by your interface/sound source output.
 

S.I.T. = Simple Instrument Track.
 
The pros and cons of these tracks have been discussed ad ivfinitum/ad nauseam.  Cakewalk has documented their idiosyncrasies clearly.
 
I am happy with the way these work.  If I were not, I would split the tracks, and use a separate Audio and MIDI track.
 
They can be useful - some people use them when sketching out ideas, and then split them for detailed editing/mixing.
 
Some never use them.
 
Some use them and live with their Simple functions.

Whatever anybody says this is still the issue as confirmed by Cakewalk (which will probably never get fixed unless it enters the bug tracker in the correct manner):

http://forum.cakewalk.com/Known-issue-Mislabelled-control-m3097199.aspx#3097199
 

Just because it is a SIMPLE instrument track doesnt mean we should have dials that really aren't functional.  Who needs a velocity trim dial?   It's just stupid.
 
A Gain knob on EVERY track, audio and softsynth SHOULD be there.   Like i said - what if you want to gain stage properly but leave your synth track as midi?   Why should I have to split my tracks when the GAIN knob COULD just actually - you know - CONTROL THE GAIN!
 
What is more functional?  a Velocity trim or gain dial there?   

I wonder if anyone is gaining by any of this? 

Is this really worth complaining about?

*eyeroll*
 
So, congrats, you found a typo. What do you want, a parade? Your victory lap is a little overlong. Especially since workarounds are abound. Plus, if you've used SONAR for any length of time you'll find split tracks are way more versatile than instruments tracks. I suggest you collect your "no prize" (for you comic geeks out there) and move along.

John
I wonder if anyone is gaining by any of this? 

No, but my velocity is seriously offset.

alewgro
A Gain knob on EVERY track, audio and softsynth SHOULD be there.   Like i said - what if you want to gain stage properly but leave your synth track as midi?

 
No, thanks. I'd rather use MIDI Volume if I want more or less amplitude out of the synth, and still have Velocity Offset handy for when I want the instrument played harder or softer, not just sounding louder or softer.
 
I often use Vel+ on MIDI and instrument tracks; I can't remember the last time I used audio gain on a synth track.

Ibanez Laney
Is this really worth complaining about?

EVERYTHING is worth stating - sure.  Just because it's not the #1 most critical thing in the world doesn't mean we can make a complaint.   That would be weird logic.

brundlefly

alewgro
A Gain knob on EVERY track, audio and softsynth SHOULD be there.   Like i said - what if you want to gain stage properly but leave your synth track as midi?

No, thanks. I'd rather use MIDI Volume if I want more or less amplitude out of the synth, and still have Velocity Offset handy for when I want the instrument played harder or softer, not just sounding louder or softer.
 
I often use Vel+ on MIDI and instrument tracks; I can't remember the last time I used audio gain on a synth track.

So you would rather go into your VST every time and turn down the volume in there instead of just turning down the "Gain" knob already visible?

Velocity doesn't even mean velocity much when it comes to synths.  Depending on what the velocity is modulation, it can change the total tonal character of a sound.  It's like having an random MIDI CC# dial up there.  It just doesn't make much sense.