Waves' L1 (and thus W1 - for compatibility reasons) uses three times longer actual release time than standard RT60 metric. This means that if you set 50ms release in the limiter, it will actually yield with 150ms standard RT60 release time.
W1 Limiter is available as a free VST effect plug-in for Windows and MacOS X.
NOTE: W1 uses the plug-in host's default interface.
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