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I have an mc505 and it sends and receives the most important midi data -including cutoff, resonance, volume, ...-, actually it has loads of midi improvements over the mc303. But don't expect too much from it. After all its a budget all-in-one system. It is nice to start with though. Especially the synth engine is nice. 4 layers of different samples is nice and with some fine tuning you can fatten things up nicely. But if you want real fat sounds go for (virtual) analog synths. Another good point is the x0x sequencing style.. it rocks for recording drums. Check it out in your local store and if you like it , you could get one cheap on ebay i guess 
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