Waves L2 Hardware whats it worth today?

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You can leave enough headroom that even if a quiet singer shouts into the mic you would not clip, there is no reason to capture hot only to have to attenuate in the box.  Your plugs in will thank you too.

 
Agreed.  I usually track with a really slow comp going in that just applies compression when things get unruly.  But my levels are usually in the neighborhood of PEAKING at -12 to -16dbfs going in.
 

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