Midterm today, final monday. Wow great scheduling Mr. Engineering Professor.
Get used to it.
Gotta get all the midterms in so you can make the final comprehensive. 
There is only one day of class in-between the two exams and as far as I know there isn't any new information planned for that day. All semester my professor has had poor scheduling.
Exactly, that's what I understood it to be.

They'll do that all the time. This way they have 3 or 4 midterms to cover all the material, and then a comprehensive final that focuses on each portion equivalently. If they just had the final and omitted the last midterm, they would have to either admit that the last portion of material wasn't as important or weight the final to focus more heavily on it, which can get messy since the final itself is weighted more.
(this is my understanding of the situation and does not reflect the views or opinions of actual professors)
All in all, I do feel your pain.

It's a terrible system for the students.