1. Live as Master Sync Output is stable!
With a good Midi interface Live (or any other Midi Master on the same PC) is capable of keeping Midi Sync stable, with drifts smaller than 0.10 BPM as long as (CPU) load remains below 80%. It is still useable until around 90% and then quickly drifts down to lower bpm because it cannot upkeep the constant Midi stream.
Eventhough tempo might drop Midi Sync should still be stable with external synced gear though, even if Live's CPU meter increases well over 100%. Anyone experiencing problems with Live as Master Output Midi Sync most likely suffers from bad drivers, a bad Midi interface, short load spikes originating from some other problem source or you saturate Midi bandwidth by sending too much additional Midi data along the line.
Also keep in mind that if you want to sync two different machines that each comes with other Audio and Midi Latencies. You need to use Sync Delay in order to get them into Sync and most of the times it can never be perfect. Which leads us to the next point...
2. Live as Slave Sync Input is only useable with restrictions!
When Live is running as Slave to another Midi Sync Master it does some very rough rounding on the incoming Midi Sync signal/values. Live rounds any Sync value to full BPM! Value below x.5 are rounded down to the next full digit, values above x.5 are rounded up. I.e. 127.4 BPM is rounded down to 127.00 BPM, 127.5 BPM is rounded up to 128.00 BPM.
Whatever strange algorithm is used for that rounding it has two major drawbacks.
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