1 - Can someone explain how this Compressor circuit works?
gain of a triode is altered by applying a control voltage (CV) to the grid. CV can be generated by taking the input VAC signal and rectifying it into DC. a small reservoir cap (that .05) is used to "store" that CV. series resistors, and resistors to grid in the CV path can be used to alter 'release' and 'attack', etc... usually, a "make up" gain stage follows the CV governed gain stage.
The input signal (an AC sine wave) when rectified to produce a VDC relative to ground, only produces CV 50% of time (if the sine wave is 50% above 0v and 50% below 0v). If you take the sine wave and invert it, and produce CV from both the normal sine wave and the inverted sine wave, you get a consistent CV that includes both the upper and lower halves of the input signal.
CV voltage can make the device a limiter or a compressor, or even a gate.
3 - And, what is the advantage to having a voltage regulator tube vs. not having one (as is typical in most amps).
Lots of old tube compressors used a voltage regulator like an OB2 or an OC2. I always figured it was to maintain an exact plate voltage, so the exact rise and fall of the grid bias consistently effected compressor/limiter effect. (which the engineer controls by adjusting presisely marked control knobs and monitors by visually watching a VU meter the front).
diode tubes are cheap.. 6AL5's or 12AL5's are as cheap as they get. 6FM8's are cheap too.. There are lots of
triode + diode or
triode + twin diode tubes out there. You are using the triode as "side chain" , so you don't care about the fidelity of the triode. You just want to isolate, and maybe amplify the input signal, so you can produce some CV.
As for the GA100. I don't think this was a popular bass amp, and the compressor feature, which is cool for us to look at, maybe wasn't as useful to bass players as they had hoped it would be. Sort of like the string snubbers that used to come on basses (which players usually took off and threw away).
tube compressor circuits are fun to play with, but for guitar or bass SS stomp boxes are 10X cheaper, 10X smaller, and 100X more versatile and audibly pleasing. Making a tube compressor for the studio is a fun project, but you'll quickly find the input/output/interstage transformers make such a project incredibly expensive...