This a timely conversation for me as I just spent the last week of so researching this very topic in search of a simpler suitable replacement/backup for my well loved Alesis Nano Compressor. My needs are similar to yours. Just bringing some light leveling control to the lowest notes and the harder hit sections. Maintaining some dynamic ability while avoiding sending all this additional unnecessary enegy into the cabs and mains.Can you tell me a little more about it. What brand? It's a little hard to see with the shadows. I use a Keeley Bassist Limiting Amplifier Compressor. I love its simplicity and how it tames the peaks but also seems to add some punch.
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I am fully aware there are as many opinions on the topic as there are applications and options available. Had it narrowed to the MXR M87 and the Boss BC-1x. Not sexy choices but good jump-off points with a lot of users and great reviews. I opted for the MXR which will deliver today and I'll try tonight.
That said, it's a nasty rabbit hole and the more I read positively about the Keeley the more I was thinking that might be the better option. Simpler in use that the MXR with some additional nifty built-in tech, from a guy that certainly knows what he's doing. So I also found a used one for those so at some point in the near future I will have a read on both.
I am betting the Keeley will end up the winner for me.