Cool Edit Pro is fantastic for a lot of things. For me pre production editing before mixing being one of them. There is a raft of things you can do to your raw tracks that will improve them no end. Fixing up level variances being one of them. Cleaning unwanted stuff away. Noise reduction here and there on tracks with buzz or hum. I don't get into EQ much at this point but if you know what sort of filtering though or definite EQ changes you want, it can be done at this stage too.
Vocal tracks can really benefit from any pre mix editing in Cool Edit Pro. If I make changes to a track I just resave under the same name with (Edit 1) in brackets after the title telling me the first level of editing has taken place. As long as you don't alter the length in any way it is easy to replace tracks with their edited counterparts into your arrangement.
Less plug-ins will ultimately be used and compressors can be set for nicer relaxed level duties with lower ratios and lower amounts of gain reduction. Lower ratios means the sound is bigger. You will gain significant gains in CPU resources back. After a lot of pre editing my CPU meter only ends up at 50% for a very complex mix.
I am working with an artist that has an incredible dynamic range in her vocals. There is no way you could just put the raw track in and use plugins to tame it under control. Automation would be complex and time consuming. But opening up the track In Cool Edit Pro and just pulling up the softer sections, lowering the louder bits all while VU meters are monitoring the tracks every move. Everything is happening in relation to the K System ref level. You end up with this still dynamic track but way more under control now. Less processing is actually being used on the final vocal track now. It sounds bigger, fatter, clearer and just better at the end of the day due to the pre editing involved.
(And now that I am using Harrison's Mixbus it all sounds better still!
Very easy to now sit vocal levels into a music backing.
(Small mono speaker down at low volume for this is the only way to do it) You don't have to put all your eggs in the plug-in processing department. It is good sometimes just to get back to basics and get all the tracks sounding great before you even start a mix.