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.