Duende is a lot gentler than Waves. You can boost more and get away with it, as it doesn't have quite so much of that harsh sound going on. I've never used the real strips in order to compare, but the Duende sounds more like I'd imagine hardware to be. The compressor suits me better as well. The one on the Waves tends to choke and stifle things and sound a bit thin. So, will probably stick with it.