On the
extremely rare occasions where cutting on the master was problematic, I've just created premixes of the sections that were going to be spliced and crossfaded or mixed the premixes before creating the master. A recent example is where a delay with lots of feedback from the vocal spilled over into a solo. I wanted to cut the solo in half, discarding the first half and keeping the second. In this case I did have to go back to the multitrack, but I could use the same basic principle of working with the master.
I muted everything in the first half of the solo and created a premix where everything stopped at the beginning of the solo except for the vocal echo. I then did a premix of the song starting from the second half of the solo, brought the two premixes into a new track and bounced them into a new clip. This way the echo spilled over the second half, without having to edit/disrupt the multitrack.
I then took the master, shortened the intro, and sped it up just a tad in the LCV - done. I unmuted the sections that had been muted, and the multitrack was back to where it was.
To me one of the
huge advantages of a multitrack DAW is having all those tracks available for premixes. You can do all kinds of cool things splicing premixes together to create the final master.