For a plug-in that has a good amount going on, the Luxonix LFX-1310 actually holds it's ground pretty well. When I had, it I was running on a Hewlett Packard Pavilion dv8000 lap top with a 3.0 Ghz processor and 2 GB of RAM. I used this plug-in all the time and can't remember ever having any issue with it. I didn't run it on every track, but I could have a bunch of them running simultaneously.
The Luxonix LFX-1310 was one of my favorite plug-ins to use when I was running Cubase SX. I didn't use it for basic signal processing like equalization or compression, rather I used it for reverb, delay, and other effects. The presets are great in that they give you a great starting point to work with, and often end up just getting the job done right off the bat. I can't remember some of the names of my favorite presets since it has been a while, but I really can't say a bad thing about this piece of freeware. If you're running a platform where VST and AU plug-ins are compatible, I don't see a reason why you shouldn't check out the LFX-1310.