Umm... there's 3 things which make a cracking vocal as far as dynamic control IMHO, in order of preference..
amazing mic technique from the performer (when it happens - its a beautiful thing..but in't as common as you'd like..)
riding the fader (yep, be all over that fader on the way in... )
..and compressing the vocal where required, and you will more often that not use some later anyway to tighten things up, even if you are recording conservatively..
so sure, watch your levels but I guess since you're self recording and aren't going to be riding a fader, a little compression ain't gona hurt, and fullish usage of your bit resolution isn't a bad thing either