Hi Jon,
Tracking with compression, at least in plug-in form, would be helpful to control dynamics. Especially when working with more than one vocalist, people usually track each other much better when they hear a more even level of signal. Sometimes we call that "railroad," that is, when people's harmonies lock together like railroad tracks because the blend is so solid. Compression, in this case, is supremely helpful.
True, in plug-in form, the compression will not affect the original recording. It is possible, however, to apply compressor to a track and route to a bus and then another track. The second track would have the compression recorded. Then, of course, you're looking at more latency. The analog domain still rules for certain things, eh?
Slau