If you want to use reverb while tracking, your best bet is a hardware reverb unit that won't add any latency. You can pick up second-hand reverbs for 50 bucks. It doesn't even have to be a good one, because what's typically done is you monitor with the reverb but record the vocal dry and add reverb later, in the computer. That way you get the best of both worlds: a real-time effect to aid the singer plus the control and quality of software reverbs.
PerfectSpace is an
excellent reverb for vocals, btw. The fact that it is not "true stereo" is irrelevant in that context.