Can someone explain this IK Multimedia Fairchild 670 style plug in control?

cfg

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I am trying to understand the function of the knob on the far left. It has settings for left/right, link, and lat/vert. I hear differences between these settings, but haven't found any description of what these various settings do. Any insight would be greatly appreciated.



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It looks to me like Left/Right keeps the two channels independent, Link makes them function as a stereo pair with the same gain reduction on both channels, and Lat/Vert is essentially like Mid/Side (Lat=Side, Vert=Mid) where it compresses the mid and side channels separately.
 
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So in theory, if I wanted to compress mid and side separately, I'd load one plug in set to mid, and another set to side?
 
I think you'd just load one instance of the plugin and compress the side with the left channel and the mid with the right channel. Look at how the threshold knobs are labeled.
 
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