Hey Newguy if you are like me and just doing the recording thing for fun the nanocomp and nanoverb are just fine. They are easy to use and cheap to buy... I got a great bass sound recording direct with the nanocomp.. If you do a search on the nanocomp you will find some posts from some senior members here who said they liked it . A lot of people started to put the nano stuff down so no everyone right away tells everyone not to buy it . If you are recording serious demos for the advancement of your career then ya buy the more expensive gear but if your just having fun like me try out the nano stuff...
I too record just for my own entertainment and initially started out with a NanoVerb and NanoComp. I still use the Nanoverb because I like the effects but with the NanoComp...Oy! Forget it! After I finally "upgraded" just a few dollars to a Behringer Autocom I was actually able to sense that compression was occurring. Everytime I used the NanoComp it was like using nothing at all. Get the Nanoverb if you want but spend the few extra bucks for a better brand of compressor. My 2 cents...