I use and enjoy the Waves plugins. Never had any problems with them.
I find them essential for my workflow.
I started with the Gold Bundle Waves 2, then upgraded to the Diamond bundle Waves 4 or 5 I believe it was.
Yesterday was a big Waves day! I bought and got the upgrade to Waves 8 Mercury bundle.
The July discount prices are good and it was even cheaper buying from Tony Belmont at
http://www.highprofileaudio.com/.
Many new high quality and useful plugins make this upgrade a good one.
All showed up on my Waves account and iLok account within a few hours!
I´ll install the upgrade at monday. That´s when I´ll get the iLok2.
Over 110 plugins!!! That´s > 60 more than I had before!
I don´t think WUP is bad as Waves usually puts new plugins into the bundles. One year free updates, and it´s up to you when you wanna renew your WUP after that.
The Diamond buldle was still Waves 7 so I gained this WUP by buying the Mercury too.
Waves recently announced it´s gonna take some time to get
Lion ready.
I really don´t consider this to be a problem as Snow Leopard is well-established, stable and will be supported by all software companies for at least 3-4 more years.