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Old 18th March 2013
I've tried the demos of both the L3 [all the different versions] and pro-L. As much as a lot of people here trash the HELL out of Waves, especially the limiters, I found it quite transparent and satisfactory. But for the price [from what I remember if costs well over 200 bucks right?] pro-L, which is ~200, is WAY better. It has several different modes, ranging from transparent to punchy. It seems to preserve dynamics slightly better, and is even more "transparent". Also never underestimate the power of interface. Two programs might have the same sound, but the one with the nicer interface will be far more adored. And Fabfilter interfaces are just delicious. I personally loved pro-L. It added a nice "fat" sound to my mix with the one mastering job I used within the 30 day trial period. Try out the demo!

But if you have L3 keep using it. I thought it was fine. There's like a million different versions of every type of plug-in, and they're all much more similar than a lot of people seem to think, in my opinion.