Okay we'll try again. You said, "If you had a hardware compressor you would run the mic into that first." I say do the same principle in PT. The inserts on the audio track are after the recording in the PT Signal Flow. meaning it goes Input=>track=>insert=>send=>output. so putting the compressor on the "audio track" is recording "dry" and adding the compresson on after. If you want to record the compressed signal, do it the hardware way in the software. Use an "Aux" track as a make shift insert. Basically, open 2 tracks. 1 Audio, 1 Aux. on the Aux track make the input, the input from the mic. On the Insert of the Aux track put the compressor. The ouput of the Aux track assign to a bus. On the input of the Audio track, make the input whatever bus you had assigned the aux output to. make the ouput of the Audio track the main output. Record arm the Audio track and record. The audio that is being recorded will be the audio compressed from the Aux track.
As far as the playback engine, set it the best your computer can handle. If things are getting screwed up, then it's doing too much. thats an easy cause and effect.
I think your making things way more complicated then it needs to be. There are 2 choices: either YOU want the signal compressed, or YOU don't. You keep asking people what they do, but it's YOUR recording. ^^^ is a way to record a compressed signal with a plug-in. You already know how to record without one. The settings are done "to taste" If you like it hard compressed, compress hard, if not then don't. The difference in recording dry, is that whatever plug-ins you add to it if you don't like the result you can just take it off. If you record with the plug-in (wet)your stuck with whatever you recorded. If you didn't like it your only option would be "undo" or Command+z. Espcially if it's EQ, or a time based effect. Usually unless your just trying to tack down a plugin sound that you have at home that isn't available in another place that you record, you would not record those effects. You would just use them in the mix. Meaning, traditionally inserts on inserts and time based on auxes (in PT).
I don't mean this to sound angry I'm not angry and I apologize if it sounds that way. I just hope this finally helps you get what your looking for.