Distressor settings when tracking bass

I don't own a Distressor, so unfortunately I can't help much. But I will say that it's really dependant on the particular bass, style of music, etc. You probably don't want to compress it too much on the way in so that you have a little leeway later during the mixing process.

You might also try asking in the Production Tips subforum, or search the Backline forum for threads focussed around the Distressor.