My program HARMONY (Not to be confused with HARMONY ASSISTANT) does a reasonable job with importing ABC, does the chords correctly, and can deal with aligned lyrics. It has a wealth of features for MIDI export, including MIDI styles which can for example add bends to notes.

Note that importing and parsing abc files is not a simple task, as some people have assumed above. It is highly complex if it has to import lyrics, multiple voices, and chord symbols.

My program is found at http://www.greenhedges.com but unfortunately it is only available on Windows platforms. I would love to rewrite it in a more suitable language for browser or Linux use, but it would take many months of hard work just to port to vb.net, with no guarantee that it would be fully functional even then.