yorolpal
After following step by step instructions from waves on installing I found I had to rebuild all my custom folders in plugin manager. No fun. But everything works fine now and is running great.

 
sounds like the Cakewalk manager changed the Class numbers ....mmmm exactly what i fear !!
 
Better performance ? looks really strange .....anyone could post a screen with lest say 20 heavy plugin on 20 tracks and same via the rack ?
 

Sanderxpander
I haven't played with it yet but I must say I don't really understand the point. Apart from slightly better performance, why would I ever use this? Can someone explain?

It offers the ability to save custom presets.  Also, 3rd party support is forthcoming.
I recommend watching the Groove 3 StudioRack Tutorial if you got the 30 day pass...
 
If you didn't, use code:  eventide30day
 
That will get you 30 days free...but it ends tomorrow, so do it quick...

I don't really do it much but I thought I could already save FX chains? And not stuck with one brand either?

I failed at installing it but after thinking about it, it really reminds me of Prochannel so I figured the same thing that bothers me about the PC will bubble up in the Waves Rack and the forthcoming Slate Virtual Rack, as well.