Nick,
a lot of the prochannel is convenience, since the effects are locked onto that channel. W/ non-PC effects, say, EQ, you end up having a lot of EQ windows floating around which is a problem if you use the same one. Or you can dock 64-bit effects but then you have to scroll through those selections one by one (something that Cake needs to change so you can skip from beginning to end). With PC, you have all your effects one the channel you are working on at the time. Once you get beyond 8-10 tracks it is much easier not to have to cycle through floating effects.
All the LP stuff (and PC) also induce latency, so if you have even one active you can't do overdubs w/o tracking it down and turning it off. That may or may not be a problem w/ your work flow if you never start mixing and then do an overdub or add a new line, but if you do ...
If you like the LP EQ you'll probably find the Sonitus EQ good, or the "Pure" setting on the PC EQ. You'll get much of the same "sound" (or lack of it) as the LP w/o the cpu usage or latency. And that is what mixing is all about - finding the tools that match your ear and expectations. While it is nice to talk techniques, nobody can tell you what sounds good - you have to decide that for yourself. It is art, not science (tho understanding the science behind sound is very helpful). You hear things one way, and others differently, and it is impossible to say one taste is better than someone else's. There are accepted "sounds" in a genré that are expected to be there, how you get there is your choice. Otherwise you are just painting by the numbers.
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