You can do as much or as little to any sound you'd ever want to achieve, give the understanding of the program you are using.
That being said, you'd have to use all available means to get the desired effect. You're only limited by your knowledge and will to manifest your creativity.
Back to reverb processing, I have a few reverb units (limited to 8 inserts but that's more than enough) going on at once for specific textures. I normally tame my reverb units with an eq (low cut/ high cut) so that it won't interfere with the super and sub part of the song.
some times i have reverb busses(individual channel pre fader) being routed to my main instert bus(mixer) while having an eq on the that channel buss shaped to enhance the frequencies that i want out of the reverb.
It's a great tool that adds characteristic, depth, and texture to any track. Shape it with EQ, haven't used compression a whole lot outside of taming an entire sound, and any other effect that you can think of.
Lastly, consider a width control tool that will allow you to make things more mono or more stereo to enhance the precision and accuracy of the reverb buss (mixer) or the signal prior to the reverb buss. This helps with a lot of tools such a phaser, flanger, chorus from being all over the place and muddy when you combine reverb and stereo tools. The trade off is an unclear image until you control the width of one component of the stereo image you've created.