I have come across this wave-to-MIDI utility (no kidding) and have not
given it much of a tryout. A short file has been translated and is
demonstrated on the web page. It translates a few seconds of piano into
a few seconds of MIDI in the demo. In the piano demo, it is odd that
the wave file sounds like a note, a chord, a note, a chord, while there
are trills intermediate half notes and a trill beginning each chord in
the MIDI file, quite logically musical. I guessed the files had been
reversed. Who knows. Try it.
The download program gives a trial copy of the utility and after
registering it for the nominal fee, you can do 15 seconds (documented)
and 60 seconds (undocumented).
If the thing is really doing the job, I imagine very large working files
would be during the operation of the program, and you'd not expect to
get this going in real time on a PC.