Flatfoot is somewhat on target - older versions of Cakewalk are easier to use if you are wanting to simply play and adjust SMFs live.
I use Cakewalk Pro Audio 10 and muting tracks and adjusting volumes or changing patches is very simple. I also have Power Tracks Pro 10, but it is easier for me to load a file while another is playing and then quickly move to the next song on Cakewalk.
[This message has been edited by cassp (edited 08-19-2008).]