VST3 is the modern industry standard for plugins. Compared to the older VST2 (which would just be "WaveShell-vst"), the VST3 version offers:

Negligible (0–0.1% CPU when idle).

By using the VST3 format instead of the older VST2, the WaveShell allows for better CPU management (processing only occurs when audio is present) and smarter window resizing within the DAW.

) : If you are looking for classic character, these emulations of the 1176 FET compressor are essentials. They are famous for their fast attack and "all-buttons-in" mode, which adds aggressive grit to vocals and drums.

: The modern plugin format that is more CPU-efficient than the older VST2. Common Issues & How to Fix Them

Because the WaveShell acts as a gatekeeper, it is often the focus of troubleshooting. If your DAW doesn't see your new plugins, the standard fix is to perform a "Rescan" of the VST3 directory or use the function within Waves Central to regenerate the WaveShell file.