You can record the midi stream or the audio stream ... or both at the same time.

You may find that midi only on the HiHat is not quite the same as the original audio as you play it. Otherwise things can work well.

If i go the dtraight midi route can I still run the normal plugins in PT LE on the midi samples? will they function the same as a normal sound source?

I may just pull in the midi just to drumagog or similiar to create more of an interesting sound for demo songs but would love to take it as far as I can go with it.

:roll:
err
I think you are missing the point a little.

MIDI is the commands and NOT audio.

The audio is created when the MIDI is sent back through a Sound Module ... like the V-Drum unit ... this will then output the normal sounds you hear.

At this point you must decide how you take the audio back into PT.
As a stereo file or as individual files for each drum sound.

This stuff can be a can of worms.

What are you trying to create here ?

:roll:

Why use MIDI at all ?
The Midi Files are very small and won't clog you hardrive or your track count.
You can always send the Midi back out to the Sound Module and re-create any audio with any drum set you like.

I'll let you think about it before I explode you head with a thousand MIDI techniques and tricks.
.... and some problems to go with it.