Jeff,
I enjoy the fact that you took the time to write this up.
I disagree with some of the technicalities and I work a bit differently.
For starters I disagree with the premise that a fast attack will destroy the transients... I believe a big ratio is far more likely to *destroy* transients... but of course you are using a big ratio using in step 1(c)... so your practice will tend to reinforce your impression of what happens when you adjust the attack.
If I was teaching someone how to listen to a compressor I would start with a very fast attack and a medium ratio and slowly reach down to find the threshold while adding some make up gain.
I had the good fortune to learn to use the very worst sounding compressors out in the field while mixing FOH on systems far too loud to allow for successful solo inspections at the mix position. So it is easy for me to explain that I found it difficult to learn how to feel like the compressor was under control. It doesn't embarrass me to be honest about that... it was a great place to learn.
If I wanted to fully explain the use of a compressor in this era of DAWs I would demonstrate with a VST like Sonnitus Compressor and use the fantastic visual feedback that a tool like that provides. You can easily see how attack effects the transient and you can see how release effects the pumping or squashing.
The other thing I would speak about is how attack can be related to tempo and how a suitable attack can be predicted by considering the content your are working on.
If you are not prepared to predict an attack setting... a visual tool like Sonitus Compressor will be
very helpful in learning about tempo and compression settings.
FWIW, I also own a pair of Purple MC-77 compressors (Urei 1176 copies... very fast attacke) and a Tube Tech CL-1B (mildly fast attack) so I will address my concern from post #4; When I choose to use the La-610 (LA2a style) I have essentially dialed up a slow attack with a content variable release and moved on in the decision making process.
I think many people start by saying they don't really understand compressors... then they think they have mastered them... and then much later they come to understand that the use of a compressor is a skill that is very hard to master. Personally, I'm still working on getting better at it.
best regards,
mike