scook
Rather than grouping track volumes, I would always use a buss. That would give me the ability to adjust the tracks separately. But the software that I use does not have a limit on the number of busses, plugins or sends per project. Working with those constraints would radically alter my workflow.
It's not the limit on the number of buses that led me to use this approach, I'll surely upgrade to a higher version if I feel the limitation. My policy is "Don't do/get what's unnecessary because you'll have less time on what you really want to do," and I suggested the fader grouping approach because there might be users like me who are busy writing songs and practicing instruments and prefer to spend less time on tweaking effect parameters and dealing with many buses.
To give you (not particularly you scook) a better example, you might want to use only one instance each of three reverbs (e.g. room, plate and spring reverbs), two delays (short and long delays) and one chorus plugin to make the setup simple, and want to apply them to different tracks (room reverb to distortion guitar, organ and bass, plate reverb to lead guitar and some synths, and spring reverb to lead vocal and clean guitar, long delay to lead vocal and lead guitar, chorus to clean guitar and electric piano, etc.), this volume fader grouping approach can achieve it quite easily (and you can adjust the tracks' volume levels separately by holding Ctrl while tweaking the desired fader, which is why I said "why not take the advantage?").
I consider this approach more flexible, and the only bus I set up now is the drum bus (to apply saturation, mild, total compression, etc.). But what approach to use really depends on the user and the project, so just take this approach as one option that could be of help.
Isn't it nice that we use different approaches and can share them on this forum?
I would, however, upgrade to Producer and dive deeply into the sea of music production, creating tons of buses and loading tons of effects, IF I didn't have to do household chores and work more than 40 hours a week for a job that has nothing to do with music.