Isn´t the compression pretty subtle with the blend mix that low? I haven´t played one of these in a while so I can´t really remember, but I guess you at least have some volume boost going on.
Actually that's wrong. Clockwise on the blend knob is MORE compression.
With these settings, everything sounds more articulate, fuller with just a touch more grind.
What I DON'T hear is compression! My amp just sounds like a better version of itself.