Yes, cutting makes more sense before a master compressor. When you cut a range it doesn't affect the level of the output as much. Makes my head hurt
The new efx are generally OK, although the reverb is too metallic and the compressors don't seem to work like hardware - I find it really difficult to shape snares and hats with them. If the effects aren't good enough, at least we have the ability to send each bus to external hardware, this is a really great feature! Haven't gotten much results from the transient designer, must try harder
