II rarely have to compress audio tracks as I always use a light compression as I track. My tracks are very even as a result. The exception is of course real drum tracks which even though compressed , they can be a little untamed.
But yes that compressor is very easy to set up and apply.
Lately, and I know some will disagree with this, I have been getting excellent results applying the LP 64 Multi band to my master buss. I leave it flat but cut the low end a smidge.
I find it tames any overs and my mixes come out at about just right volume. It will also show if you have problem frequency bands that are too hot so you can deal with them at the track level.
I like to see all the bands tickle the meters. The highest band never does. If the meters are constantly showing at 2 or more bars your over compressing your mix.