I'd like to pile onto this.
Freezing can be useful, but freezing just isn't a practical approach when working with multi-out virtual instruments like Kontakt, since freezing one channel means freezing them all.
As an aside - would the OP or a mod mind changing the title of this post to "MIDI Note chase" or some such so people can tell from the subject what it's about? I think that might help get more votes.
Mike