Yes, the low latency kernel is suited to MIDI over USB. The sampling rates for midi don't reach the speeds that servo threads require. Midi needs to respond fast enough that, for example, if I play a digital keyboard, there is no perceptible delay between hitting keys and hearing sounds. These speeds are in the millisecond range and nowhere near the kHz speeds that servos need.
I love how ignorant musicians can be. I've read more than my share of posts insisting that low latency is as fast as anyone would need. The fact is that it's fast enough for Kenny G., but people who know and do things actually need their hardware to work at CPU speeds. Elevator music is one thing. CNCing an elevator is another.