I tend to focus more on the Kick Drum, Snare Drum, Vocals and Elec. Guitars. The bass guitar i usually try to just warm up the track with it. But yes, I use a compressor and EQ and i use it on everything else. As far as EQ on the bass i always start out with a High Pass Filter at about 90Hz. I dont want to hear the bass guitar in my sub. I sometimes add some high end to the bass guitar so u can hear it in your front end speakers. I want the kick drum pounding the sub! I've got my sub at home and in my truck crossed over at about 70Hz. The compressor on the bass i'll usually start out about the same as the guitar, about 7 or 8 db's. I forgot to say earlier that i always put a high pass filter on the guitars too around 125 to 150Hz.
I also use an external crossover made by DBX with my monitors. Much more precise crossover than the one built into the KRK 10 sub which we both have.
I use a high pass filter on Every track at various frequencies.