I'd say with analog, a compressor is better employed at the tracking stage because of possible (tape) noise issues (if used at the mixing stage), and a compressor would vertainly help maximise your level of signal to tape I suppose, BUT I'm consciously trying to stress a difference in the way a compressor might be used with analog as opposed to digital.
Regardless of all the baloney I just dribbled above, the answer is "Yes."