recording from your soundcard is easy if you have a line-out port (think headphones) and a mic-in port (or auxillary in, as long as it fits the same size jack of a headphone set). just grab a line-to-line cord, which is just like a headphone cord except their are two jacks instead of just one. plug that cord into both the line-out and mic-in ports and you're ready to go.
you can record the sound with a program like
Audacity, which happens to convert to OGG. Other free players such as
MediaMonkey will convert to OGG, but as far as I know doesn't record sound.
Audacity also has the ability to import .MID files, though I'm not sure what the soundbank sounds like.
note that line-in jacks are not *supposed* to be used as a mic-in, though it is possible. for best results you should use an auxillary-in port if you have one (usually marked as a blue port, whereas mic is red and line-out is green)