I don't have any problems with Play 5 except the occasional iLok reinstall prompts, but that happened in stand alone with Play 4 as well and sometimes with Melodyne and Autotune.
The MIDI memory thing was a problem for me recently when configuring a Line 6 FBV II foot controller. I tried the fix suggested elsewhere of deleting all ghost MIDI/Sound devices in Device Manager but that didn't help. I found I had to open SONAR
before I opened any other programs like the FBV controller software. When I opened SONAR first, I had no further problems.