since midi overtook port 31250.
You can have ONE device/application on the other end of the serial port. It doesn't matter what the baud rate of that device is. If you are sending MIDI data via the Serial instance (using hardware serial pins 0 and 1) you can NOT also send data to another application.
You could write an application on the PC that gets the serial data and sends it to two different application, on other serial ports.