I agree with Giancarlo that the best use of a compound is for multi-part inseparable objects (e.g. side 1/side 2, tape 1, ..., tape N, etc.).
The two main use cases for multiparental compound objects seem to me to fall into two categories:
- curated collections (like individual users creating a "course pack" by selecting specific objects from the repo)
- clustering related objects (like grouping authors with their works, or objects which are different iterations of each other).
These should really be solved using collections and relationships/ontologies respectively. But not everyone is able to (or should) do the coding or Views wizardry needed to make these objects display on each others' pages.
In my view, the Compound Object SP is a shortcut so that users with basic skills can set up those Omeka-like displays that everyone wants.
We need something like this, and until there's a better system built-in, I think we should continue using Compound. My vote is that we adapt it for the case of multiple parents.