What a great forum; I can think of many places where a discussion like this would have degenerated into a flame-war.
All you really need from a DAW is an FX chainer, and Reaper's chainer is very, very good. It'll remember your settings, let you try different combinations easily, and doesn't try to force you to use proprietary plugins (listening, ProTools?) You also have the option of changing effects within a single track, using envelopes or by splitting the track.
IMO, this is the wrong place for a discussion about FX/engineering. I suggest GearSlutz and KVR.
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MS Windows 8 Pro 64-bit, Intel Core i3 370M @ 2.40GHz, 4.00 GB RAM, Acer Aspire 5742
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