For today, I have a quick tip that will gain you some time, especially in the long run: dedicate some dummy aux buses, or audio channels, to put your favorite or most used plugins on. Like so:
For illustration, I’ve made a selection of my ‘most used’ plugins here, divided by category (Compression, Waves One Knob Series, and EQ). This saves me a lot of time, since the Waves Mercury bundle is very time-consuming to browse. Logic Pro’s stock plugin bundle is better browsable, but still, if you find yourself reaching for the same set of plugins many times in a session, give this some thought. And yes, saving channel strip settings is a good idea, or just save a template. Drag and copy plugins by holding down ⌘+⌥. Bypass them if you’re worried about processing power.