I don't even care much for Waves products. I think their just a big name. I do like the API 2500 compressor though. I personally prefer shit from PSP, Voxengo, URS, Izotope, Sonalksis, IK Multimedia, Stillwell, Sonnox Oxford, and many more. A lot of good free shit too that rivals comerical shit, like the Reaper plugins.
Ever fucked with a free plugin called "CLAS" by Refined Audiometrics Lab? Shit is nuts, it's based on Psychoacoustic compression. Much similiar to a BBE maximiser exciter, but better IMO.