Note that the 49 a month is only for the first year. After that you're on Platinum and it's 10 a month. If you're already springing for plugs it's worth a consideration. But yeah EQ and compression VSTs abound, even for free, so if budget is an important consideration definitely try out what there is first. 
 
If I had to pick a favorite EQ I'd say FabFilter Pro Q2, no contest. But it's expensive and the Flyout EQ from Sonar Platinum is quite good too. For compression, there are so many flavors. But a cheap and versatile one is Klanghelm DC8C.

hodshonf
i think that's down a few hours from when i was reading his columns.

FWIW...I still write regularly for Guitar Player, Sound on Sound, Harmony Central, Pro Sound News, occasionally for Keyboard and Electronic Musician magazines, and of course, Gibson.com. Oh yes, and the world-famous Cakewalk eZine 

And here, Craig.. We notice
All the best.

Anderton

hodshonf
i think that's down a few hours from when i was reading his columns.

FWIW...I still write regularly for Guitar Player, Sound on Sound, Harmony Central, Pro Sound News, occasionally for Keyboard and Electronic Musician magazines, and of course, Gibson.com. Oh yes, and the world-famous Cakewalk eZine 

...a bit busier than you were a hundred years ago when you were writing the "Device" newsletter.  (I think I may still have some of those.)

John
Eventide has UltraChannel.  

That thing is so expensive though. They gave it away for free for awhile so you'd figure it was a cheapie to get people in. Nope, they want $250. Screw that. For the $0 I paid, it is well worth it and I use it. For $250 I'd get something else.

hodshonf
used to read your columns in various PRINT mags back in the day.

He still does. You just stopped reading them, like everybody else.
 

bitflipper

hodshonf
used to read your columns in various PRINT mags back in the day.

He still does. You just stopped reading them, like everybody else.

If the print edition of Sound On Sound weren't so expensive, I wouldn't have gotten an online-only sub.

Anderton
If you're not against an a la carte approach, the Sonitus plug-ins may be old, but they're very effective.

totally agree, love the Sonitus suite and still use it on almost every project.
I know there are better delays out there, but the Sonitus delay + compression are 2 of my fav's.

Check the melda free suite. It has all sorts of high quality fx for free. If you're looking for an actually channel strip, Hornet makes one that is very good. Eq, compressor, etc. Also Sknote has one that sounds very good and it should have an update soon. You might also save up for the new Melda product that is coming. It should have all sorts of things in it that will make your life much easier. Super powerful.

bitflipper

hodshonf
used to read your columns in various PRINT mags back in the day.

He still does. You just stopped reading them, like everybody else.

Almost all magazines, including the one for which I write, have online versions whose circulation typically exceeds print.