Gonna add the comment about FT2 vs IT, in the demoscene FT2 was probably favoured a bit more since third party replayers (required for embedding the music into demos) were at least somewhat faithful when it came to .XM modules whilst .IT module support wasn't as good for a long time since IT files had more advanced features (though you could probably export .XM modules from Impulse Tracker if you kept to a subset of the features, but I remember it being a bit of a hit and miss).