michael-
I agree with you in that its not the most exciting sounding compressor ever designed. It really shines as a buss limiter though, it provides a glue to rhythm sections that is pretty unique to itself. Try to reserve your opinion about it until 6 months after you do a mix with it, mix one song with it and one day you'll likely wake up and listen to that tune and wonder why it rocks so much. You'll scratch your head and remember that you used that limiter on the drums and bass and then you'll get it... Thats at least my relationship with that box.
It would be really cool to someday build a version with all discrete input and output amplifiers, keep the sidechain the same, use transformers on the in and out, I think then you can get some really exciting aggressive color out of it, that would be a pretty worthy project to undertake, I wish I was smart enough to figure out how...
dave