As some of you have stated, it is good to record everything dry and for the most part I agree. In fact I record everything dry except the vocals which I ALWAYS use comps on. Wet can be a bad thing if you don't like what you did. On the other hand, (and I'm speaking on vocals) when it comes to compressing, first remember this is HOME RECORDING so compressors most peeps here are going to buy are really compressor, limiters, noise gates and levelers all built into one nice package and most are 2 channel. Some even come with dessers, and tube sims. First, on vocals, there is nothing wrong with using comp on the take. Again as stated earlier, be careful how much you use and how you use it. Unless you have a real studio, having noise gates included is always good on any open mic while recording. You never know when someone might walk across the room and if your using good condensor mics with no noise gate it's going to be time to do another take and kick that persons ass for moving while recording. Limiter (levelers) are also good in helping to not clip and can make setting up the vocal track so much easier. Now, anyone who is truely doing home recording and again this is HOME RECORDING BBS and is going to send something to a mastering house is either nuts or has way too much money to waste. First, if your using any desent daw system, say a roland vs or akai dps or any of these types of recorders, they all they mastering built into them. Second, sending something to a mastering house, your at the mersey of the enigineer there. What he thinks sounds good might sound like shit to you and just because he works or owns a mastering house does not make him or her a producer or a real engineer for that matter. Don't waste the hundreds of buck at an mastering house when you can just punch in one of the factory pre-sets and even tweak it to your own likeing. Bottom line, play with things and see what works best for you. There are few if any things in recording that are set in stone. You can do some amazing stuff with a little creativeness.
Peace out
boardman