The VSTplug peak soft 79 is smooth, right down to the smallest peaks. It's technology is sample accurate with any sample rate that smooths out any tiny peaking instance. With the ceiling adjuster and the ability to choose when a peak will be rounded to a greater degree, the peak soft allows you to mimic that smooth sound of an expensive microphone with expensive hardware built right in.
But please, don't confuse this for a peak reduction mechanism like that of the CLA compressors by Waves. This is to reduce peaks on a mS level, the tiny little ones. You use this like RMS, to create a smoothness that sounds a bit natural/un-natural. Maybe it helps to reduce distortion hard to tell, but it sounds nice, and that's important.