I think that is a good way of putting it. Max velocity is 127 so if you want to do the bit where you divide by 100 and multiply by whatever, feel free 
Just kidding.
Yeah, you’ll see the midi channel strip light up half way with a velocity of 64.
It was my pleasure to post it, just to get Paul (and seemingly others) onto a journey where you can rationalise about some things. There was so much I didn’t go into due to the question being a velocity or volume thing.
For instance look at the top of a midi channel strip in the mixer and you get a whole different bunch of things to a VST or audio track.
Paul - who knows - coffee might be a good idea. Normally only allowed to leave Stoke when we go on holiday (even though I’m a top member of the escape committee ). So we do go north a few times per year. Perhaps make a special meet-up later in the year.
Thanks for your soundcloud comments too - appreciate it. Most of my older tracks used to be on my own, now defunct, website or on Planet Z and at the moment I’m not completing many tracks. Been spending time learning Cubase 7 & 7.5 after moving up from 4.5. Don’t get me wrong - I’ve got lots on the go, but the weather has been far too good to be indoors. It’s this boring retirement thing you know - lot’s of free time on your hands - NOT.
More uploads later in the year. I’ll get a chance to nip over and return the compliments on your soundcloud page too, as soon as I’ve got my old pedals off my mountain bike!! The beggars are seized on.
Anyway, enough waffle.
Good luck with the rest of your topic re memory etc - seems like you’re in expert hands with other respondees.
Neil B