Topic: Anyone used the Yohng W1 limiter VST plugin before?

[morst]

I was searching for a good limiter plugin to use for Audacity (I use Audacity v1.2.6 on a mac) and just ran across and downloaded the W1 from http://www.yohng.com/w1limit.html

This appears to be a free version of the Waves L1 limiter. I have never used L1, but know that it's supposed to be a very high quality "transparent" limiter which is frequently used to control levels during the mastering process. From the little I have played with it, I think I might find myself using this on 24-bit masters before I boost levels and dither to 16-bit for circulation.

Anyone got any tips for me regarding settings, or some general guidelines? Seems pretty easy to use. Only three controls, the way I am interpreting them now is the following
Threshold would be where it kicks in, 1.000000 being 0dBfs
Ceiling would be the allowable maximum output level, again 1.0000000 being 0dBfs
Release is a time function, lower settings give a faster release, and it's measured in seconds, with 1.0000000 being the max- one full second.

Did I get this right? Are there any other great free VST plugins you would recommend for tweaking up recordings?

Thanks y'all! 

(ps if you don't have VST enabled yet, get it here and set it up, very easy to do- http://www.audacityteam.org/vst/ )