I can echo pretty much the same sentiments as 335. I also use a semi-hollowbody and that bottom end and feedback CAN be a bit of a bother. Like he said, it's not squealing feedback, but more of a kind of resonant feedback...depends on the room you're in of course, but some notes will really resonate the room and instrument a LOT. No noise gate will help you, your friend here is EQ, and a compressor, a multi-band one at that.
As far as dynamics I do notice a little drop there, but not enough to be an issue. Matter of fact, at louder volumes, it's better that way....the transients can be too much then. 335 made a very valid point in that we are conditioned into hearing how the sound changes when we use something, so we set up the comp till we hear the change and then don't like it. To really set up a comp well takes some trial and error, but when you're done, you shouldn't notice that much 'change' in sound, but you will find that the sound is more studio-like and smooth.
Also try to set the threshold a little higher, so you have more headroom. I don't like for the soft passages to be compressed much....I LOVE dynamics, so I want them there still. I just don't want to hit the hard notes after the soft passage and hear BOOOM and THWACK, so I have mine set up to just smooth out the initial transient, just like 335 said. If you didn't know that a comp was there, you'd never think it was there.
As for bass, you NEED a comp. ESPECIALLY if you like slappin n poppin...and which bassist DOESN'T? LOL cuz without compression, your normal playing might be just lighting the bottom lights on the mixer, and when you slap or pop, the top mixer lights light up or hit the red.....and you're clipping. Usually doesn't sound that good. A compressor really helps, and for slap/pop, you can set up some more aggressive ratios. I think I use somewhere about 2.5-3:1 or thereabouts, but only if I need it....otherwise I stick to just mild compression, and if I'm playing fingerstyle, I usually turn off the compression.
I don't see why we guitar players should have a problem with compression....compress is commonplace for drums and vocals and bass just about EVERY time, live AND studio, and we guitar players are used to compression ANYWAY without even knowing it - tubes being driven, adding distortion, overdrive, fuzz....all these things add MUCH more compression than a typical 1.5:1 compressor will ever give. In a rock context, I also like to use some compression, cuz I prefer mildly overdriven tones, so a touch of compression does the trick for me.