N
NYMorningstar
Recording Modus Operandi
It's a bad habit to get into mixing with your eyes. Let your ears be your guide.the same can be said for all instruments in a mix with master buss compression. once the threshold is passed it has a finite range (1-3db) in which to sit with everything else. your threshold and gain reduction become your guide for signal level balancing.
the same general concept i think applies to effects and eq as well. the compressor tells you when your out of balance by emphasizing whatever crosses the threshold...
What's going to sound better when your guitar crosses your threshold of concern, using EQ or compression? You tell me cause my ears are plugged and I can only see the levels. Farview as usual hits the nail on the head. Use a compressor to sound good and tame your dynamics another way if possible although in the live situation for rock it's almost inevitable.(or as Sarah would say inefitable

Keep in mind that alot of these comments here get confusing because some peeps are thinking live mixing and some are thinking post tracking. You wouldn't mix the same in the two situations. More likely you wouldn't mix the same in any situation anyhow but the general concepts hold up pretty well in both, use your ears.