I have an ACP88 but haven't used the 1046. The Presonus has gates and attack and release controls. The 1046 doesn't have gates, and the attack/release is automatic, but I've hear many people say it's "better". I find the compression quite usable on the ACP88, but the gates are a bit touchy. The threshold controls on both the gates and compressors have fine detents, which on the compressors seems to work okay but it makes the gate threshold hard to set. If you want gates and manual attack and release control then the Presonus may be the better option. If you don't mind not having control over those parameters then you may want the 1046.