I may be a little late here, but there are a couple of arguments for doing the compression at the recording stage when recording on a PC.
1. Avoiding multiple A/D conversions. Even if you have great converters, it is generally preferable to avoid jumping back and forth between analog and digital. Otherwise, you are gradually degrading your sound quality.
2. Increasing bit depth. By compressing a signal before A/D conversion, you can record a hotter signal and thus use more bits of information.
The second point has been debated based on the fact that the number of available bits is more than enough, especially when recording at 24 bits. However, this is debatable.
Thus, if you have a good software compressor, use it. If not, use the hardware, but keep in mind you should use it when recording. If you are not confident with your skills on the compressor, use it on the recorded signal, but attempt to become proficient enough to use it when recording.
Matt