depends on the player, man.
put that mic up and see if you are hearing everything you want to hear. If that snare isn't quite picking up the rolls you move the mic. if you get the mic as good as it can be and you're still not hearing the rolls like you would like to, slap a compressor on there. it might bring down the drummer's wild hits and 'bring up' the quiet stuff that's missing. if the singer sounds really horrible and has no control of volume (like me) you will want to compress it before you track it. if the bass drum doesn't have that 'thump' you want, you might need to bring in a compressor. you want to get something thats *useable* to tape, because you can't fix everything while you're mixing.
another point is that if you are using outboard gear you will want to re-use it. If I get the kick drum perfect while tracking, I can use that compressor on the snare while mixing. I also like to compress my vocals twice (I really am that bad) using the same compressor.
that said, I have had excellent mixes using absoluetly no compression on the way in.