Aloha h,
L2 & 3 have more features including their ‘special’ version of ‘look ahead’.
Both 2 &3 are helpful when dealing with more ‘complex’ tracks (orchestra/ensemble vs a single instrument/vox)
Oh yeah! They also cost more $$$.
I personally like the Waves ‘sound’ (clear/clean/shimmering) but there is other stuff that is also quite good
with nice ‘colour’ and cost a lot less.
Good Luck!
{‘-’}