Looking to buy this compressor, need opinions,,

[austinm08]

Behringer AUTOCOM PRO-XL MDX1600 Compressor
http://www.musiciansfriend.com/product/Behringer-AUTOCOM-PROXL-MDX1600-Compressor?sku=182472

My current setup:
Shure SM57
M-Audio AudioBuddy preamp
Soundblaster ( )

Would this be good for me? My understanding is that it comes after the preamp in the signal chain. Please lend me your opinions or comments or advice. And question: does my preamp suck? I got it for around 100.. it was labeled as a "budget preamp" on m-audio's site..

 

[austinm08]

Crap.. I didn't realize until now that compressors are listed under the "Rack" forum. I'll repost it in there and hopefully this will get deleted.