Dan,
In many cases I will put NLS or Slate VCC on a group/bus rather than individual tracks (like all rhythm guitars, or amped and DI Bass for example). The result is similar to putting it on individual tracks, uses less resources and doesn't impact freezing. Neither the VCC or NLS are very resource heavy at the end of the day. As a rule of thumb, put the console emulation last on a group/bus or individual track, and first on your Master Bus.
I know NLS is promoted as, "each channel having a unique character" but good luck hearing that in a mix or figuring out which instrument is going to sound best on an individual channel. Personally, I reach for Slate VCC 9 times out of 10 over Waves NLS. It is more transparent and I like what it does to the overall sound. Very important, if you are using them, to mix through them from the start of the project as they will affect EQ and placement in the mix.
Here is a video below that has some relevant information about Console Emulation (VCC) in this case. The basic fundamentals are the same as NLS, however, I like this video because it also includes using Buss Compression in conjunction with Console Emulation. Very important, IMHO, to use both bus compression because NLS or VCC will not give you a magical mix alone. Look for your mixing skills and buss compression to give you the punch and bottom end and NLS to give you some seasoning over mix with the introduction of harmonics/distortion. This video below illustrates this point.
As a side-note, I would use the SSL Buss Compressor over the Slate plugs most of the time, except the Slate FG-Red does a great job on rock guitars Hope this helps.
https://www.youtube.com/watch?v=eAcg3q2DF-g Regards