Apologies for replying to a very old thread gents, came across this while checking out some old reviews.
As jamesster mentions above I did a track for LR2 as well as SFX for Lego Island II.
WaveConvertPro was a tool in use when I arrived at Silicon Dreams Studio, as I recall there were two specific qualities that it was considered good for. The first, was the ability to link properly with 'Waves' sound processing capabilities, they were considered excellent professional plugins at the time. The second was the power and adaptability of the batch processing tools. A lot of the work at Silicon Dreams Studios was concerned with their football titles - UEFA Champions League and Dreamcast Soccer. Due to the 'commentary' soundbites, as well as standard sound FX, these games had several hundreds of individual clips, some of them needing clever concatenation and naming conventions so you didn't get lost all the time. WaveConvertPro was great for this.
As for usage in the title above. We were given a damned small amount of memory for the soundbanks, 4MB as I recall. WaveConvertPro would definitely have been used to reduce the sample sizes. The tunes were actually created using the now defunct MS DirectMusic system, which I adored. Usually used for music that adapts, it was used in this case to deliver straight tunes to final product.
Steve M