waves have done it - therefore it is possible.
btw the waves one doesn't sound that great imo
think hard about what it should do
make a fixed attack compressor and play with it for hours and hours and learn what it is about the input that makes it sound best at a particular setting.
write it all down, analysing the input to learn it from how the DSP sees the signal. think really really hard, then work out a cheap way of analysing the signal and modifying the release characteristics to sound as you feel best.
- the future sounds better.