@bitman asked in this thread why I always use an audio fX, while I may not use a video fX on some projects.
I shoot with one camera where I may have very good control of the video, but little to no control over who is next to me and how loud they're shouting.
I usually play my work at home from a media server on a TV that would otherwise be tuned to an OTA ATSC broadcast channel. I don't want a significant difference in audio levels when I play my videos.
I attempt to level my audio program to the ATSC standard.
This is a simple project:
Sometimes they get more complicated with volume envelopes, event level fX and/or annoyance removal in Sound Forge or Isotope RX.
I usually level the audio before I cut the video. I don't like to listen to extremes any more than anyone else.