Well, since wavelab is aimed to be professional mastering software (which it is), it IS needed. That you might not need it is a different story, you will probably also don’t need EBU r128 metering while there is a big demand for it.
There is no other option then the apple utility (mac only) and the sonnox so there are not many more options i’m afraid.
For professional mastering engineers this funtion alone would be a reason to start using wavelab without a doubt!
@PG: yes please 