i don't use compression much....
I listen when i do compress and it takes some life out of the tracks. If you use compression, use it very lightly.
What I do on some tracks, is look at my track on the computer and where I see me going into the red too much, I simply turn down the volume a couple db and hit my automated snapshot button (i work with Sonar) and it lowers the db of that peak and then i go back up to normal volume level, so really, all i want is to limit my peaks. Working this way with the track, it sounds more live and alive, instead of compressing and taking life out of the track. Let the mastering engineer of reputation do that on the mastering. So if compressing, use it very lightly.
Correct me if I'm wrong...........thanx