Most Engineers, I found, use a combination...
They'll use plugins to get it part of the way there...and
hardware to get the "full" whammy. I have yet to hear
a mix done entirely "in the box" that sounds anywhere as near
alive as a "hardware" done mix...if that were the case, there
would be a lot of hardware companies out of business. I have had
this argument repeatedly. There is no way that a $50 plugin
is going to sound remotely the same as it's $2000 hardware
counterpart. If that were true, then these major studios wouldn't
be buying $500,000 consoles and spending hundreds of thousands in
outboard gear. They'd buy plugins, save a whole lot of money, and
be done...