Sorry Glen, but I gotta disagree here. Most any good MBC has adjustable band centering and band width, so zeroing in on a specific frequency, or at least a very narrow band is completely possible. On a three band MBC, you just leave two of the bands at linear response, dial in the center freq on the third, narrow the bandwidth all the way down, and then set the threshold and ratio to fix the offending notes.
Eq's, as you well know, don't limit. They cut or boost statically. That's the right approach if the offending frequesncy is consistantly offensive, but if it jumps out here and there, and cutting that freq will fix those places but leaves it weak in other places, then the MBC is the better choice.
I think we discussed this in a mastering thread. I know giving an MBC to the preset pushing neophites is like giving liquer to the indians, but lets not throw a good tool out the window because a lot of people don't use it intellegently.
-RD