When I first quickly looked at a KMS file, I thought it was mostly MIDI, except for a different container format, but on a closer inspection (that took about five minutes), my conclusion is that it's not like that at all. It's more simple than MIDI. I'm sure that has already been understood before. I just wanted to see if a little glance was enough to recognise the format. From what I can see, indeed, it's a lot easier to turn it into MIDI than the other way around because the MIDI format allows for more versatility and this is more tracker-like.
If you were to compose new music, it'd be better to do it directly as KMS, it seems. It'd be easier to make a KMS editor than a MIDI-to-KMS converter and the result would sound better too. Anyway, I've only looked at the format for a short amount of time. I'm pretty busy. But it seems to be a simple format.