Have only used the VW demo, but I must say that it rocks!
On another forum, I was reading alot of posts bragging about the Izotope Ozone program. The concensus was that the Volume Maximizer in Ozone is equal to or better than the L1.
I have never used the L1, but I have tried the Ozone demo, and the VW absolutely SMOKES the Ozone VM. I get much bigger sound with plenty of room for more w/o distortion with the VW. (Nice work guys!)
One area that I haven't figured out yet is how to really get a punchy bottom end out of it. The freq. knob for low end needs higher resolution - can't pick any freqs. between 100 & 110 and also between 110 & 120.
Incidentally, I have just started using ProToolsFREE and was wondering if the VW can be used as a plug-in there?