windbuks, I have mastered several CD's for clients using Wavelab and Waves plugin's only. Most weren't complaining, but at the same time, they weren't paying $100-250 an hour for the mastering either!
I have mastered stuff through the good stuff too. Our only complaint was about price, but for these releases, the added little "edge" the great analog boxes provided was important to the production approach, so really, the expense of the $120 an hour mastering studio was not that big of a deal and factored into the cost of the production of the CD ahead of time.
So, what does that tell you? Well, nothing, about like what everybody else has said so far, as it concerns your initial question.
You stated that you don't want to pay a mastering house to do this work for you in your initital thread. This might be wise for your pocket book if you are just using this music for your personal enjoyment, or a limited release to "fans" of your music. An effective mastering job can be quite expensive, and for many guys, it is a production expense they can't afford. I mean, I am sorry, I can't send my client who can barely keep a downbeat, or is only going to sell about 30 copies of their CD's at the 5 gigs they will play before they breakup to Tom or John for a quaity mastering job!
Obviously, paying for mastering by a "pro" is not what you need or desire right now. What you "need" and desire is some advice on software so you can start trying to master your material yourself. Fair enough. The others on here should be ASHAMED of themselves for trying to convince you otherwise. I mean, I can list 100 good reasons why you should pay ME to mix your music instead of mixing it yourself, but that isn't going to stop you from mixing it yourself right? And it would make me look like a self serving ass trying to do so. SO, for the record, you SHOULD be paying me to mix your music! There, I have reduced to the norn today!
Wavelab will work alright for you. It has all the tools needed to "master" a CD. It's relative quality to other tools available are on the scale of "you get what you pay for". Stock out of the box, Wavelab includes some alright plugin's. Nothing stellar, but alright. It is a great place to start. If those plugin's don't serve you well, you can try some new plugin's.
I can say from experience that I can't get the kinds of results with plugin's that I can with high end analog units, but, the plugin's have created acceptable results for some of my clients!
Good luck.