I've made no secret of the fact that I don't like Waves, and am fond of saying there are plenty of suitable alternatives. I have to admit, however, to one exception to that claim: Renaissance Bass and MaxxBass (two versions of the same plugin, with RenBass offering a bit more control).
These utilize a patented algorithm that's also rented out to boombox manufacturers to provide an illusion of more bass. While there are plenty of distortion effects around that can come close, to the best of my knowledge nothing
exactly duplicates what these plugins do for bass and kick. RenBass is the only Waves plugin still on my first-string roster.