I'm using Cubase VST and trying to do something very simple (albeit, without a manual) but it doesn't seem to be working: I'm simply trying to set up the XP-50 to play different sounds on different MIDI channels independently (a drum track and several synth tracks), controlled by sequenced tracks in Cubase...for instance, to record and monitor a synth track on Channel 2 while listening to the drum drack on Channel 1. Is this possible?

Yes it is posible. But keep in mind that drums in most roland equipment are hardwired to midi channel 10.

Thanks for the reply. I got it working, with the help of:

http://www.rolandus.com/SUPPORT/DOCS/SUPNOTES