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The limiting can end up decreasing the dynamic range. I keep bringing this up, because I think your perception of what is "good" is more in line with the concepts of the "loudness war", which is a higher total RMS, but a lower dynamic range.
Sorry, again you use a wrong definition of limiting (based on sciolism).
Limiting = very high ratio + very high threshold.
And this does not decrease a dynamic range more than traditional compression (low ratio + low threshold) !
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This is another fundamental misunderstanding you have. Limiting IS compression. It is simply a different type of compression. What limiting has is generally a higher ratio than "compression", thus squashing off more sound overages to maintain a consistent total volume. It can actually lead to a LOWER dynamic range.
Only very high ratio + low threshold decreases a dynamic range dramatically.
But this is not called limiting - this is ultra compression.
The question is what happens (what is possible) in Stereo Tool`s multiband ?
There are no special sliders for ratio and threshold.
But the Compress-Limit slider combines somehow both values in one (ratio and threshold).
The actually characteristic is also dependent on the input level (the AGC output).
The AGC output acts more or less like an offset for the threshold.
->
1. Press Reset
2. Turn Multiband on
3. Play some tracks of music
4. While you listen drag the slider Compression-Limit back and forth
5. Can you hear the difference ?
But why can Brian measure (better ?) higher DR values with the TT DR Offline Meter ?
Because his presets (the additional processing besides multiband) have the goal to create an output with relative low maximal RMS.
And the internal weighting of the TT DR Offline Meter prefers these low RMS levels.
Technically it calculates correctly (based on 0 dB as maximal output level), but practically it fails to identify the perceived loudness (the loudness a human ear hears - virtually extending far beyond the 0 dB digital barrier) and the relative differences between quieter parts (intros, solos, etc.) and the maximal loudness of high energy parts.
Besides that important auxiliary condition, the measured DR value contains no information about the dynamic structure on the timeline.
It only calculates sums.
Theoretically a processing could invert the original dynamic balance between quieter parts (intros, solos, etc.) and high energy parts - but the TT DR Offline Meter would measure the same DR value.
Starting from scratch (-> Reset) I agree that compression sounds better than limiting characteristic, because the range of reaction with compression for individual frequency bands is much broader than with limiting.
With compression you have better (much simpler) control of the spectral structure.
But for my taste the usage of compression characteristic in Stereo Tool`s Multiband leads to a dynamic mismatch with many presets.
Originally quieter parts (intros, solos, etc.) get XL-size and high energy parts get S-size.
That characteristic might be useful for music in the elevator/departement stores or low/medium volume via headphones.
But with speakers and loud volume settings (the way music is meant to be played - as close as possible to a live audition) IMO that characteristic is not suitable.