Is SIDE-CHAINING with MCompressor still the standard in Gig Performer? Is this plugin still up-to-date, or are there now better compressors with technically improved features?
To be honest, I’m not aware this is a standard. It might surface quite often because it’s free and Melda makes good plugins.
That said: Melda updates its plugins on a regular basis, so in that respect they’re up to date. To me it seems it does the job it is designed for, so I see no need for replacing it, although I must admit that I myself (playing guitar) am also always looking and trying to improve my sound 
My two cents
Since some posts about the MCompressor date back to 2018, I thought maybe some people had switched to a different compressor.
But yeah, if the MCompressor is free and sounds okay, there’s no need to change 
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Melda updates all of its free plugins with the same frequency as their paid products, e.g. the version of all their plugins are harmonized, but that doesn’t mean changes are made to each product for every version. All of their products are managed by the MPluginManager and the only way to download and/or update your Melda products, and it’s one of the better/easier to use plugin managers IMO. You get notified of new versions when they are published if you are on their mailing list. In the MPM, click on the MFreeFX Bundle group, then pick the effect you want to update. The rest of the process is fast and easy. See my screenshot below.
BTW - Melda has four other compressor products in addition to their free offering.
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Wow, really easy! I downloaded it for free, created an account, and then tried it out just like in your picture. Works great! 
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“but that doesn’t mean changes are made to each product for every version”
One thing to note, and it’s one thing I really like about Melda plugins, is that they use a common “engine”, core functionality that each plugin uses. While an individual plugin may not be updated, all reference the same engine.
I’ve been using MeldaProduction plugins since v9. They’re on v17 now. I have licenses for 59. Their free bundle is excellent, but here’s what you get if you license it (49 € in the EU):
The software is totally free of charge, so please download and enjoy! You should consider upgrading to a professional version though.
If you do so, you’ll be able to:
- Change the size and style of the plugins.
- Access the sonogram feature in the analyzers and equalizers.
- Manipulate (save, load, organise) your own presets.
- Access the modulators.
- Use upsampling to minimize aliasing and to improve sound quality (most plugins).
- Get rid of the big red reminder box with our clickable logo at the bottom of every GUI.
- Make us happy and help us develop more free software ;-).
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Okay, I understand, it’s better to spend a bit of money. I’ll wait for Black Friday
They do 4 different plugins at a 50% discount each week. They may do 50% on everything for B.F. 25 € for the Free FX Bundle would be a really good deal.
I think it’s worth it.