JT, you're on WaveBurner/Logic right? Or anybody else in WB.
I was just playing around today during a mastering session. After a series of processes, the end of the chain had an L2.
I followed the L2 by clipping using the fader/volume, 1 dB of clipping. Sounds fine.
I then remember there is a hidden option in the standard compressor, if you press the button with the binary numbers on (in the upper left corner). We all realise this compressor is not a compressor for mastering of couse.
However, it has a hidden clipping function that can be switched between off/soft/hard/clip.
Try turning off everything in the compressor (threshold up, ratio 1:1, auto gain off, knee to hard, attack slow, release fast, makegain at 0 dB), and enable straight CLIP in the hidden menu.
Then clip using the compressor make up. Can only be set on 0.5, 0.9, 1.5, etc.
In my opinion it sounds somewhat better than the standard clipping procedure. The low end is more clear, and clarity seems to be better overall. I'd say the difference may be as little as 5 - 10% locally (just evaluating the clipping) but nevertheless better. I also tried comparing to other forms of clipping/crushing using plug-ins - beat them all.
Check it out and let me know. I don't know why this is so, but I believe I've stumbled unto something good, although it might only be a very small improvement.