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I use the Waves gold bundle with Cubase 4, the effects and tools work great. But it really depends if you personally like the Waves products or not. For me personally, they're incredibly easy to use and deliver exactly what I want from them. I like their layout, their sound, their functionality.
Nobody can tell you what your preferred DAW is, or what synths you should buy, or effects. There are no "must haves". For some people, it's worth the money and iLok USB key and then choosing whether or not to subscribe to Waves' update plan. For the gold bundle, the update plan is $140 per year, which is in the same general ballpark as upgrading other pieces of audio software from one version to the next. They keep adding tools to their bundles, so if you're signed up to WUP, all of a sudden you'll have a convolution reverb, then you have something else...I see it the same way as upgrading to the latest version of Cubase, or Reason, or whatever.
It's 100% up to you - either they're right for you or they're not.
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