For this, the Thrillseeker is a literal life-saver. As for its sound, it's a middle ground between a transparent multi-purpose limiter and a straight-up saturator/waveshaper. It helps me limit my dynamics with ease. As for cons, I would note CPU consumption on a slightly higher end of the range. Otherwise, it grew on me, and I'm very thankful it did.
+ Free + Great and unique sound (although NOT a transparent one) + No peaks over a threshold
- x86 only, so use a bridge or FL Studio or Reaper - a bit heavy on CPU - some UI elements update a bit "lazy" sometimes.