Cool signature sweetrock

Historically I have compressed before tape but have gotten the best results using as little comp. as possible.
If your levels are spiking or aren't as consistent as you like you can try fast attack, slow release, no more than 3 maybe 5:1 comp. I like a little compression on mix down- see if it compliments the drum mix.
I would also move the 57's you have as overheads to the toms and invest in some condensers for overheads.
A good mic preamp will make the spikes in the signal sound sweet and warm before distortion while cheapo pre amps sound grainy and plain bad when they distort (which they do very easily).
Dynamics are a good thing in recording I think. But it depends on what you are going for!
I prefer multiband compression in the mastering phase. A little at mix down might be ok too. If you need it to track as well- that's a lot of compression! It's hard on the ears to listen to.
Ok have fun!