I have always owned the UA 1176 LN original, since I got my first UAD-1. It was my favorite compressor, imparting a sound that improved whatever I put through it. I also own a hardware version, a Rev E that serves as half of my favorite input channel, along with an Avalon M5. So I was skeptical when UA wanted me to buy the software version again...'re-modeled.'
But, because I love the 1176 so much, I decided to go for it. I reasoned that it must be a large improvement, for them to spend a bunch of time and money on redevelopment, and expect those who already own it to shell out more money to own it again.
So I did. Know what? It was worth it. All I can say is "Wow." Even when the track sounds great, this plug improves it.