Limited-Z was one of the few top candidates for our #1 effect pick this year, but the lack of oversampling support in the free version of the plugin pushed it back to the second place on our list. Everything else about Limited-Z is pretty much good as it gets in a freeware limiter effect, though. The plugin features six different limiting algorithms, a very helpful waveform display with real time peak reduction monitoring, an RMS gain reduction meter, automatic gain compensation, and a host of other useful features to help you speed up your mixing and mastering workflow.
Whether or not oversampling is an essential feature in a limiter will depend on your own mixing habits, of course. If you’re pushing the limiter hard in order to maximize the loudness of your mix, oversampling is definitely a required feature for preventing inter-sample peaks and avoiding audible aliasing artifacts. The paid version of Limited-Z (priced at $28) adds oversampling to the plugin’s feature list, along with X/Y controls for dynamic algorithm adjustments, a secondary metering mode, and a couple of other useful features.