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Sonar Platinum, Sonar X3e, Sonar X2a, Sonar X1 Expanded and 8.5.3 (32 and 64 bit), Windows 10 on a Toshiba P75-A7200 Laptop with i7 @ 2.4 quad and 8 gigs of RAM and secondary WD 1 Tb drive, Windows 10 desktop, Asus i5 @ 3.2 quad, 12 gigs RAM, 1 Tb drive, 1 500 gig drive, MOTU 24io, 2 Roland Studio Captures, Saffire 6 USB for laptop, Soundtracs Topaz Project 8 mixer, Alesis Monitor 2s, Event BAS 20/20s, Roland Micro-Monitor BA-8s, and 45 years worth of collecting FX, Mics, Amps, Guitars, and Keyboards! VST3 plugins are not more efficient.
In all likelihood you will experience exactly the same performance with either VST2 or VST3. Developers maintain a common code base for both, with 99.9% of the internal code being identical. The idea that VST3 is more efficient stems from its feature for shutting off a plugin when there is no data coming in. However, plugins have always had that ability if the developer chose to implement it. VST2 is not going to stop working due to obsolescence.
Some new products, in particular those from Steinberg/Yamaha, will only be available as VST3. But as long as the host supports the VST2 standard, your VST2 plugins will continue to work. Eventually, vendors may decide to stop developing new VST2 plugins just to simplify things for themselves. Eventually, VST3 may be the only choice for new products. But even then, your existing VST2 plugins will still work. To answer the original question (what is the difference between VST and VST3?), they are two versions of a written specification describing how hosts (DAWs) and plugins (VSTs) communicate with one another. It does not dictate how plugins work internally.
VST3 does add some new capabilities, mostly relevant to soft synths, such as support for multiple MIDI ports that can be switched on the fly. There is a myth that only VST3 plugins can use external sidechains, but that only applies to Cubase users. We've been doing it in SONAR for more than a decade, long before the advent of VST3. Being a new standard, many developers have hit snags while adapting to it.
Consequently, many newly-reported bugs turn out to apply only to the VST3 version of a plugin. When that happens, you can simply revert to the VST2 version and carry on. Steinbork shot the pooch, the fox, kicked them both into a tri-cornered cocked hat and then ended with a flourish of ballsing it right up when they came up with VST3. A nightmare for developers; badly designed, poorly architectured, and more prone to issues (i.e.
Than 2.4) due to this overly complex nature (both for host and plugin authors). You do get some fancy new bells and whistles, but really not much more than you can do with VST 2.4 already. For example, in 2.4 you might have dedicated mono- and stereo- plugins, but in 3, a single plugin can automagically configure itself depending on the nature of the channel it's dropped into.
Not that much of a big deal and certainly not worth the considerable extra development overhead. My VST3 folder is empty.
Apart from the U-He health warning, the biggest practical issue that I have come across is that by default, preset formats are different between VST2 and VST3. So if you cut across to the VST3 version, because it's all shiny and new, you suddenly find that your extensive library of presets is junk. This seems to be the case with Voxengo, for instance.
Where the vendor uses a proprietary format, they apparently can sidestep the problem: FabFilter for instance seems to use the same format of preset. BTW, I was a little surprised to find that Rapture Pro has no VST2 and comes as VST3 only. Steve: your link returns a colourful Page Not Found, but I had found the reference exclusively to VST3 simply by using the Products pull-down at the top of Cake's home page.
I confess I didn't spend too much time researching it but just put 2 and 2 together and made 4 (or rather I couldn't see 2 at all but could see 3). I can see the dll lurking next to the mini-host now, but I am not seeing it in Plugin Manager, although it lies in one of my scan paths (along with umpteen other CW VST2s that are available). I don't have the time to delve deeper into this mystery today, regrettably. Jonesy: I have left both of those boxes unchecked, because experience tells that typically any such glib automation methods often work fine most of the time, but when they occasionally get it wrong, the mess outweighs any advantage. I must be in an atypically cynical frame of mind today: I'll be better after breakfast, I promise. VST3 and VST2 are different plugin authoring standards.
Its really a misnomer that its called VST3 since its not even close to being the same thing as VST2. VST3 has a more modern design for software development but it abandoned a few more traditional mechanisms for MIDI data. There is no notion of MIDI SYSEX or controller events in VST3 for example.
Its replaced by generic parameters. There are a few new extensions in VST3 such as built in mechanism for having client server based plugins, and for multiple MIDI output ports. For most practical purposes VST2 and VST3 plugins work and sound the same and almost all vendors have a lowest common denominator implementation of VST3. IOW only VST2 compatible capabilities are available for the vast majority of VST3 plugins.