So I finally took the plunge to 9.5 from 9 and fixed some of the visual arguments I had with the new color schemes 
All in all, seems like a great update with a few issues.
The main one that’s crimping my style is that the MIDI Merge Mode “Last Value Continues” seems to be broken.
I have in my template hundreds of MIDI tracks sending to VEPro Slaves. Each track has a little node of track automation data at the start of the sequence for each CC# that needs to reset in VEPro when I start a new session. This is so that I can turn on the “Read Automation” button and instantly have the VSTi reset to a default state.
With all previous versions of Cubase, I could then record MIDI on the track and if I wrote in CC1 data for instance along with the notes, Cubase would chase to the MIDI region CC info once it got to that Data. Basically whatever the last bit of CC info was regardless of whether it was in an automation lane or in a MIDI region would be used. This what the setting “Last Value Continues” is supposed to do.
In 9.5 however if I have CC info in an active automation lane, Cubase won’t read the CC info in the MIDI region. The value in the automation lane overrides the MIDI region. This is super problematic for me.
Can anyone else confirm this?