I add VST's and stuff but they don't change the source wave. The faders still work - there is no clipping ever -
Wave (normalized to 0) -> VST's EQ/verb compressor, whatever -> fader -> stereo mix... In Cubase the plug-ins add gain but they don't affect the original wave file - you can just slide the fader down to reduce volume - I keep all my levels under 0 on the fader meter!

- maybe there is some confusion of terminology here (quite possibly mine)...
The only time I ever get clipping is when my trim is too high or my pre-amp is too hot - (which only happens with my vocal mic cause that that's the only thing I run through an external pre, the trim on the mixer handles everything else) -and when that happens it's the wave file that is clipped - so I always record pretty low just to make sure a spike doesn't clip - then after I got the wave in cubase I normalize instead of adding a VST preamp which might add some weird color or something -
- with normalization I often don't have to use any plug-ins at all on a track - if I have a good source I don't need to tweak it (which is always my ultimate goal) - I have succeeded with guitar and bass recording so the only thing I am left to screw up with plug-ins is my vocals... which suck anyway so I can't really do too much damage, but I usually find a way to make them sound worse