What compression setting would you use as far as ratio and threshold?
IMHO this is something you should base on how you will operate the speakers, how close to the edge you are willing to push the subs, and how attentive you are. If you want to be super conservative, set your limiter at 800 watts and set your compressor threshold 3 to 6db lower with something like a 3 second attack and an equally long release. If your not attentive run a high ratio so the compressions provide significant protection and is obvious enough to catch your attention. If your one to watch the meters like me, then you can set the compression a bit more transparent so it just keeps the average power a bit below 800 watts.
My processor has three levels of dynamics. I run my sub's output limiters about 1/2 db under the driver's peak power ratings, but my processor is digital and uses look-ahead limiters to prevent overshoot. The output compressors are set 7 db below the limiters with a 3:1 ratio, fast attack and fast release.
Note the threshold is 1db below the continuous EIA power rating. The way I operate the system is to turn it up only until the output compressors starts to regularly engage. As I am operating the system relatively conservatively, I am not overly concerned about exceeding the continuous power rating, but the sub compressors are configured to give me a little visual alarm that they are peaking above their continuous power rating.
The input compressors are set with a longer attack and release, and a 5:1 ratio. They come into play slightly after the sub output compressors and before the output limiters hit. Basically the system starts with soft multi-band compression, ramps up with higher ratio full-band compression, then hits multi-band limiting.
Even if I push the system hard enough to hit the limiters on the subs and low mids, I can't really hear it...the intent is to never operate the current subs at this level for an an extended period of time.
If someone else were going to operate this system. I would drop the sub output compressor threshold and increase the ratio, and probably drop the threshold of the limiter as well. The subs are the weak link in the system for now and the current setup does not provide adequate protection from someone who lacks my discretion....I may be pushing them too hard myself.
I am sure a real pro would have a more scientific answer and maybe some formulas for you. Ultimately it's a tradeoff between the risk of destroying the drivers and a few decibels, so choose your settings wisely.