Thanks to those who have appreciated my OP. It was intended to give people a starting point. There has been some interesting discussion here too. I can see Dean's point as well but I wonder that maybe it is not a bad thing to have some sort of approach first to get there at least and then go out from there.
On attack issues when I say use a slower attack I do not necessarily mean 15ms or so. What I mean is in step 1 for example you might start with a superfast attack eg 0.1 ms. As you slowly slow down the attack it might only get to 2 ms for example before the leading edge of the sound starts to sound right. So in the end the attack could be still classed as fast but it is just slower than the initial setting. In step 1 it is more about
listening to the leading edge of the sound and slowly adjusting the attack until the desired attack in the sound is reached and stopping there. That might be quite different to say a 15ms attack which is going to let a much bigger transient through.
Others here have made some interesting suggestions for compression effects. But I think though that you can still use an organised approach to it and still obtain many variations in the resulting compression. It does allow for the many variations in material you are trying to compress.
And of course if after when everything is in the mix you certainly might go back and adjust things a bit. I have found that even when you do this it is possible to go through the steps I have suggested in that order and you wil get to the desired compression effect.
Deans approach reminds me of a musician trying to play jazz but has never learned it. They will do a sort of OK job. But when someone does all the study and hard work (and there are very defined ways of learning how) and then goes out there and lets go of all that (study) and then just plays, it will sound much better. Because without even thinking about it they are playing the right notes.