"RENAISSANCE FAVORITES." The Waverly Consort. Michael Jaffee, director. CBS Masterworks 37845. The members of the Waverly Consort deserve praise for their work on this handsome album, but not the highest prize. They sing with evident feeling. Their director chose intelligent tempos. They display a power most impressive for a six-voice ensemble. But they lack that absolute precision, that pinpoint touch, necessary for making words clear and in unison--a feat which makes other groups their superior.