The short answer is yes. I do this all the time. I split the single MIDI drum track into its separate tracks AFTER I duplicate the original track, because I want to be sure to keep the original MIDI track.
Then, I sort through drum samples for each drum in the kit. This kick, that snare, etc. I don't know what you have for drums, but this will work with VI drums as well as external gear with drum sounds.
I then record per normal way each drum track...I have MBox 2 Mini, so I have to record each part pretty much one at a time. Takes a bit longer, but the results are worth it.
Then you can eq each part just like you would a drum track recorded in the studio with a live drummer.
I also make a couple of stereo audio tracks of the full performance from the original MIDI track. After the audio is recorded, I actually split them into mono. Then, by adding a bit of minimal delay and/or reverb you can somewhat emulate room mics and/or overhead mics, depending on what you what. I've also tried just nudging the track behind a sample or two to emulate room mics placed, say, 10 feet out. But I like the delay better.
Albee is right, of course (he always is -
), that you can also have the midi file play a drum VI, like BFD or, say, boom, and each drum sound can be tweaked within the VI itself. However, I find I get better overall results in the mix and with the sound by creating the separate audio tracks for each part. Just my bias, I guess...either that, or I like doing things the hard way. Hope this helps.