ultrafunk vx. cake fx1
cake and ultrafunk are about even purely in terms of their compression ability.
having said that, for those of us that don't have magic ears, it's hard to know how much compression you need without seeing visually. with cakewalk, this meant going into the audio view and watching the wave. with ultrafunk there are input, gain reduction, and output meters, so you can see what's going on.
ultrafunk also has a peak limiter. for those of us who mix in digital this is very important. if you have a couple of peaks that are so fast that they don't add any perceived audio to your track, yet they will cause the normalized mix to be less loud, having this peak limiter can help alleviate the problem. by beefing the gain up to the point where these stray peaks are clipped on an individual track, you can raise the level of your mixes.
you can't do that with fx1, even if you add the limiter behind the compressor, because fx1's limiter is not look ahead, so it lets some of the peaks get through.