...wicked
I did think seriously about the Waves unit, it is cheaper (pre-sale price anyways), but I realized with my new Waves plugs that iLok prevents you from having more than one active version. You can install it on multiple machines, but you have to switch your activation over to get it working...that's a giant PITA I don't feel like dealing with.
I find the Waves Central program to be pretty efficient. I've got a desktop and laptop running SONAR with Waves installed on both machines. Instead of iLok I just use a USB drive (or sometimes an SD card) and keep my Waves licenses on it. When it's time to move from the desktop to the laptop, I just move the flash drive from one to the other. If I need to free up USB/SD ports then Waves Central will bounce the licenses to the actual computer...it takes less than a minute.
At any rate, I've got both the Waves & Cake versions of the LA-2A and I don't think you can go wrong with either one.