I've got a 160X, it's great for lots of stuff, adding snap to drums (I love it on snare!) or bringing out the attack on bass is what I find it excels at. It's also a decently transparent compressor for tracking vocals.
As mentioned it does have a tendency to reduce the low end a bit, it's just a side affect of the DBX style of compression, nothing you can't add back with some eq.
To be honest it's such a simple compressor that it will take you zero time to figure it out, there's only 3 knobs!
Your signal chain would be Mic/Instrument>DI>Preamp>DBX>Interface