WELL,
we always talk about 'no rules', and that really should be the mantra,
except when you are brand new.
i know, it's easy to get confused,
but a compressor, is a compressor,
whether it be 1969 or 2015.
so the idea is the same, controlling peaks and dynamic levels.
but there is a certain 'aesthetic' to using compressors, besides simple level control.
there is a 'flavor' that you can impart on things, using the compressor correctly.
and when you think about how infinitely variable a compressor can be,
and how much HARM it can do (doctors always say, "first, do no harm")
LOL
i guess it's important to learn the hard core basics of compressors first,
until you figure out what really needs compression, and how much of it.
i absolutely NUKE things with limiters.
but i try to do it in a way that is fairly transparent, and that takes a long time (for me) to learn how to do.
on a side note:
study:
Crest Factor, Peak vs RMS values, soft vs hard knee, and upward compression.
it is all related.