I would experiment with a compressor and a limiter and see what works best for this application. If both were set up properly, they both could do things that might improve the results. I personally wouldn't clip a recording to reduce peaks like drums can produce.
I would recomend saving an unaltered version of your recording. That way later if you hear the results on a few other playback systems and hear problems you can always make changes.

That's just my 2 cents.
