LEDwiz and ledblinky is indeed the most common and easiest combination.
I do however want to make a little sidenote on the amount of LEDwiz' you and drventure are talking about. First of all, he's right. You'll need at least 3 ledwiz' if you want every single LED to be controlled individually. And that's something you tend to see a lot. I once saw somebody who had 5!! of those little ---daisies--- in his cabinet! Do realize however, that this is in no way necessary. It is perfectly possible to connect multiple wires to one LEDwiz output. So you could for example connect 3 LEDs to the same inputs, and then you can turn your cab into a christmas tree with one single LEDwiz. There is a downside of course, be it a small one. The LEDwiz can only send one command to that "bundle" of LEDs connected to that specific output. So that means that all the LEDs you connect to that output will light up in the same colour, or light pattern. On my CP I connected all parallel buttons from player 1 and 2 to the same LEDwiz port. So P1 button 1 and P2 button 1 are linked, coin1 and coin2 are linked, start1 and start2 are linked,... This still gives a very nice effect since everything is nicely synchronized.