I believe with the new Ozone you can also load the individual wav files into it in standalone mode. If your happy with the mix this may be one method to consider. Personally I like to do all three. On my last project I would mix and master the song on a per project basis then export the file and use a "mastering" project for all the finished mixes. I would also import the wavs into T-racks standalone and have a go with that.

I haven't figured out how to get my VS-700 to have control in stand alone mode....I need to look into that.

bitflipper
My method is to master each song in its own project, with Ozone (or other limiter) on the master bus, export as 32-bit with no dithering, and then open a separate CD-mastering project and load each song into that.
 
An instance of Ozone on the mastering project's master bus supplies the wordlength reduction and dithering, the "prevent intersample clipping" option is turned on, and the limiter mode is "brickwall" with a threshold of -0.03 dB. Sometimes I also use Ozone's EQ as a rumble filter, with a steep rolloff around 30 Hz.
 
A prerequisite for this method working is that each song should be mastered to a common loudness standard. That way, all the songs are going to already be pretty close in volume. A volume envelope in the master project can be used for minor tweaks (identify the quietest song in the collection and adjust everything else to it), generally no more than 1 or 2 dB to match volumes.
 
I load each song into a single stereo track in the mastering project. That makes it easy to re-sequence them if I want, and to precisely set the gaps and crossfades.
 
I don't ever use the standard 2-second gaps that CD-burning software sticks in by default. Instead, I set the gaps by ear in the mastering project. For example, a transition from an up-tempo rocker to a ballad might warrant a longer silence. I like to count beats as I'm listening, so that the next song comes in on the beat of the previous song. I'm also fond of crossfades, which works great when two consecutive songs are in the same key with similar tempos.
 
This procedure lets me preview a CD album in its entirety, exactly as a listener will hear it. Once I'm happy with the sequence, volume-matching and gaps, I export the whole shebang as one big 16-bit wave file. 
 
At this point, your CD-burning application sees only one file, and will create only one index marker. You have to now go in and manually set index markers on each song. Most CD-burning software will let you do this.
 
WARNING: if you send this master out for replication, be sure to send along a note that they are NOT to put in gaps between the songs. Tell them it's gapless. I had a thousand disks come back with 100ms gaps between every song after having painstakingly adjusted every crossfade. And it was a live album, so it sounded especially weird. I would have been furious had it not been my own damn fault for failing to give explicit instructions.

Thank you Mr. Bitflipper, sir, for your confirmation of the way that I mix/master.. finish out my songs.. i thought that I was doing it backwards ... thanks

Well, it kind of is backwards, compared to traditional methods. But in our current DIY digital world there's really no need to always base our methods on how it was done decades ago. 

Question: when converting audio to a wave file to send into stand alone to work on, what is the best dB level to convert at or to? Also, my songs are recorded @ 64 bit, when converting to a wave, should I drop to 24 or 16 bit for Ozone? Thank You.

I would leave some headroom to work with. -6 to -12db would be fine. Are you sure you recorded at 64bit? I bet it's 24bit, but you can always export as is and see if Ozone will load it. It will probably convert it if necessary for you. and I wouldn't dither until your completely finished and ready to go to cd. Then dither to 16bit 44.1 kHz. Ozone should have a nice dithering tool. 

He may have recorded it at 64 bits, that is an option. A waste of disk space, but it is supported by SONAR.
 
In any case, it's best to export the data as 32-bit floating point for Ozone (or 24-bit integer if that's how it was recorded), and leave at least 6dB of headroom (8-12dB even better) so Ozone's limiter has some room to work in. Dither is not necessary when exporting. Ozone will take care of that, and has an excellent dither algorithm.

I've tried to export into Ozone at 64 bit and it did not support so I dropped it to 16 and it was fine....do I need to convert the wave to 16 or stay with 24 or 32 until dithering at the end?

Ozone probably can't deal with 64-bit audio, but you don't want to go all the way down to 16 bits. Export it at 32 bits, no dither. Then just check the MBit+ box in Ozone to use its own dither algorithm.
 
BTW, there is no benefit to rendering at 64 bits within SONAR. You're just burning up twice the disk space for no benefit. Set your render bit depth to 32.

Learn something new everyday. I didn't know Sonar could record at 64bits.