Hi I just discovered a feature that may or may not have existed before but I find it really cool, so i thought I would share it everyone (of course I may the last guy to discover this lol)! 
 
Now I am a bass / guitar player and not a very good keyboard player, so when I discovered this feature well I freaked out. The other day I accidentally dragged a bass clip to a midi track and when I did, it converted it to midi note for note. So I tried it with a guitar part (that did not have any chords) and it also worked, naturally. I was doing this before using Melodyne, by adding Melodyne to the clip then using Copy Midi Events, but just dragging and dropping the clip is easier.
 
Now there is one small limitation, when you drag the audio clip to the midi track it will drop it in the same location in the timeline even if you try to drop it back or forth in the timeline. But this is not a big deal since it can be move afterwards if needed.
 
So now if I want keyboard lead line I can play it on the guitar and just drag the clip to the midi track and voila. 
 
So for those of you who did not know about this feature I hope it will be helpful to you like it is for me.
 
Peter Groslouis
 
 

That feature is actually using the ARA integration of Melodyne.

It doesn't work well for me.  Even simple audio always comes across as the same not.  The rhythm is correct, but it is always a monotone note for me.

it sounds like you have the default recognition algorithm of Melodyne set to rhythm (as opposed to melody or polyphonic or automatic)

Could be - I never looked into it too much.  I'll take a look at that - thanks!

I think this feature has been in since X2 or X3, whenever ARA integration was added.
 
It is a great feature.  If you set Melodyne to polyphonic mode and have a clear signal (i.e. no distortion) it does a very good job of coverting the audio.
 
I like to sing a melody in to a mic and then convert it to midi to create keyboard parts and work on harmonies.

Dwardzala,
 
When I try this method,
 
"I like to sing a melody in to a mic and then convert it to midi to create keyboard parts and work on harmonies",I need to edit in Melodyne as the results are never acceptable...I'm not the best singer by any stretch of the imagination, but I can carry a simple tune, and it seems to me that should work...
 
Any thoughts?
 
Edit:   maybe its because I i have Melodyne prefs set to melodic instead of polyphonic.... ?  Seems to me that singing a simple vocal melody should work with the melodic setting, but I will try the other.

All I am doing is recording an audio track.  Then I drag that track into a midi track.  I usually have to do some editing of harmonic frequencies, but generally this is pretty quick.
 
I don't use melodyne for this part of the process (but I think the setting in melodyne is important.)

I use this a lot for creating leads from my guitar. Like mentioned above, some cleanup afterwards, but it's ~90% what I want.

Hey that's cool.  Thanks Peter.  
It'll make drum replacement/sample layering faster than going into Melodyne stand alone and transferring back to the session.  
Can't wait to try it out on kick drum and snare tracks.
Mark.