Thanks Bitflipper. I'm going to study those freebies more.
The Perfectspace I have had problems with perhaps due to my older computer.
Is there a trick to avoid the lockups?
 
Also it sounds as if a lot of folks use Valhalla so that is getting up there on the list to buy.
 

Glenn, you can freeze the PS track - that is what I used to do when I'd get stutters.  Just copy the reverbed track to a new track and then unfreeze and archive the old PS track.  That takes PS offline.
 
Another trick is to freeze only the reverb at 100% wet and mix that in live. 
 
@

Huh! a good trick thanks AT.
Love this forum.
I'll need to figure out how to freeze just the reverb tho?

Also add PerfectSpace only when done tracking and increase mixing latency. It is not unusual to record with latency set at one value and mix at another. Increasing latency may help the computer deal with the extra CPU load that PerfectSpace and other mixing plug-in add. If it helps to hear reverb when tracking use a lighter one like Sonitus or StudioVerb and swap it out during mixing.

Freeze a track with the snowflake right below the edit filter between the W and A buttons. You can also put the effects 100% wet on a track or bus, bounce it and mix in the bounced track just like any audio track.

Ah yes. I was confused about how to freeze the buss as I always use the reverb on a buss and use sends to it.
So in this case, I bounce just the wet reverb buss and bring it back in as a track and fade it up to taste? 
 
I'll try the latency thing as well if PS acts up.

Yes, bounce the bus to a track.

Glenn, don't forget to add $50 to the price of the Tsar1R if you dopn't already have an iLok.
 
If we are sticking to the original question, I will echo that Sonitus, studioverb and perfect space will cover most of your needs.  Every now and then i will watch one of Craig Anderton's videos or read one of his articles to remind me of how much can be done with the stock plugins.

PerfectSpace adds a fair amount of latency and CPU overhead. Follow scook's suggestion of using a lightweight reverb as a placeholder until you're done tracking, then replace it with PerfectSpace and increase your interface buffers in preparation for the final mix. I've never had any issues with PS, despite my DAW being old and relatively underpowered by current standards.
 
Latency is somewhat adjustable in PerfectSpace. You can lower its internal buffer size to reduce latency, but more often you'll want to raise the buffer to ease the load on your CPU and reduce the likelihood of glitches during playback. CW suggests setting it to 1/4 the size of your interface buffers, but  I leave PS at 1024 but mix with 2048 on my interface and don't have any problems. I'd guess as long as the PS buffers are smaller than the interface buffers you're OK.
 
But the most important principle when it comes to PerfectSpace is that the quality of the reverb sound depends mostly on the impulse response file it's using. It's worth the effort to look around online for some alternate IR files, as there are many excellent ones available for free.

Excellent, thanks. I have heard and read good things about convolution reverbs.