With all due respect... I think you're talking bullshit. I've never heard of "per track compression" nor does it make sense that different ratio limiting would be used for individual instruments versus a whole band recording. Can you point me to any source online which mentions this?*
"Low ratio" versus "high ratio" limiting -- which incidentally is a whole different animal than compression -- is probably what's better known as "hard limiting" versus "soft limiting" and that just defines how much much a waveform is distorted to fit within given dynamic range.
Compression OTOH brings up the lower volume elements to closer to the maximum deflection signals.
By any measure, digital has about TEN TIMES the dynamic range of analog ... and since dynamic range is logarithmic, that means 100x the volume differences.
* - I Googled "per-track compression" and came up with this article which misunderstands some basic definitions in audio processing (much as you have done).
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