As said it all depends on the effect as to where it will work the best.
Ambient effects like Reverb, Delay and even chorus work well on a buss because you want to share the ambient "space" across your tracks. More than one "space" is confusing t the listener.
But tonal effects like EQ, compression and overdrive belong in Pro channel or the track bin.
Think of it like this,, you wouldn't want to share your guitar amp with the other guitar player. But you will share the same "stage" and room ambiance. That said, rules are made to be broken and as always you could say-- what ever sounds right to you.. experiment with different set ups.
Using multiple instances of PLug ins- it's easy to save pre sets so you can share the same settings. Or use a Track template where you have you effects in Pro Chanel or the Bin. Drop the audio or open the template before you record the new part. That's what I do.