Here is an idea how the midi automation problems could be solved (EDIT: see also idea 2):
Use two track fx columns instead, so have 32 bit space:
FX1 FX2 M1E0 4800 | | | Cmd | | Delay | Value
Extra benefit: Using multiple midi automation at once, e.g. aftertouch + pitchbend, by using 4 columns of fx. Saves one track column of space for sake of one fx column.
Disadvantage: Would it be a serious problem, if this midi commands were applied to any instrument playing in that line (assuming you are using multiple instruments in one and the same track)? You couldn’t have individual midi commands per instrument before either.
Any better ideas?