Depends where the dynamic compression was done. If the multi tracks were compressed as originally recorded then there's no hope of anything better, but if it was done later during mixing or mastering then a re-mix could fix it.
It was done during mixing and mastering, as evident in the original, pre-album mixes of
Definitely Maybe and the SACD mixes of
(What's the Story) Morning Glory?
For someone intimate with both albums, I don't dismiss the compression outright, because I think it works great in mixing for the rockers, adding a level of grit to what otherwise would be rather sterile recordings (especially for
Definitely Maybe). When you reach the ballads, though, that's where it poses issues, flattening the more intricate and beautiful instrumentation.
I do believe the albums were mastered with too much compression, but the recent remasters were worse, hollow-sounding beings that are akin to giving a bowl haircut to a punk rocker, technically cleaner but emotionally soulless.
I had edited the albums through Perfect Declipper, which I think was able to undo much of the mastering distortion and make the releases more dynamic. Here's an example:
For
(What's the Story) Morning Glory?, I edited from the original US release, as it de-essed the vocals better than the UK release.
Also, there was a 5.1 SACD release that featured a ton of errors in its presentation, which I
detail here and try to fix up! The Vimeo link on the posting showing my edits is currently dead, so I've reposted it to YouTube!