True that if you turn the gain up, you will start to kick in the compressor. And true that if you turn the gain up really high, it will start to distort.
IMO and IME, it is not a tube like distortion. ...
I would agree with this. I would not use the gain for overdrive or distortion.
But there is a point between where the compressor kicks in and where it distorts that's very musical. Before this point, I feel the amp is fairly "quick". Once your past that point, it turns "softer". Not sure how much is audible but you can definitely feel it when you're playing.
I think between setting gain or power first, both ways are valid. You just need to try it yourself and decide.