MarioD
If you only select MIDI clips you will consolidate those into one MIDI clip.
If you select both MIDI and the softsynth tracks/clips you will get a wav clip.
That's not accurate. Bounce to Clips will never render MIDI to Audio. Bounce to
Tracks generates a wave file if both tracks are selected, but does nothing if only the MIDI is selected.
Also, the OP should be aware that Bounce to Clips will apply any muting, groove-clipping, slip-editing , clip FX, etc. that have been used, so it does more than just merge clips. I recently re-learned this when I bounced some muted clips together, and all the notes disappeared.