Generally thinking the more of any plugin you insert, the more of a hit your computers resources are going to take.
In your specific example perhaps that isn't a big difference but you will eventually find a ceiling where you will tax your system to its limit.
As for reverb if you're just mucking around with weird noises that's one thing but if you're trying to seriously learn to mix then that many different reverbs will create a wash that will make your music pretty unpleasant.
The idea to send the tracks to a bus with the fx probably applies more to a reverb than any other fx as you're trying to create or recreate a space. When you think of how music is played live every sound is in the same space. So only need to have the one. That's generally speaking and probably a good place to start.
Other fx like eq and the various dynamic fx are more suited to individual sounds and tracks. Again generally speaking. Hope that gives you a starting point. Go through some of the variety of tutorials, videos and blogs on the Cakewalk site and watch and read and keep asking questions. Also welcome if you're just new here.