MH ChannelStrip 3 and TransientControl for $45

Where in the chain does one use a channel strip? Do you use it instead of your eq/comp/etc., or on the bus to round things of? Could someone explain, maybe with respective to the analogue counterparts? Thanks :)
 
Its been years and years since they have had this version of MH so i wouldnt bet on the VST version, i am not sure they care... I am happy I switched to mac and reaper supports both vst and au so I can give this one a try
 
Its been years and years since they have had this version of MH so i wouldnt bet on the VST version, i am not sure they care... I am happy I switched to mac and reaper supports both vst and au so I can give this one a try

Or perhaps this means a channelstrip 4 is coming soon? maybe with vst