I quite like a compressed sound when practicing at home, or through headphones, but as soon as theres a bit of volume coming from the amp, I feel like theres just enough natural compression for it to feel good. I know alot of bassists that couldnt live without one.
As elephant said though, its a tricky one to set up especially if you dont understand the theory behind them. I must admit, I dont fully understand them. I've done alright without them!