I think the side that is "against" compression braking is that it is much cheaper to replace the brakes than the clutch. That said, I down shift all the time I don't usually downshift where the revs are going to be really high however. Usually at between 3-4k with a blip of throttle.
In an autocross situation, you might find yourself downshifting in a higher RPM range but it's been a while for me in that situation so my memory fades.
Mike Holbrook
Meridian, Idaho
1992 535im, 17", Euro M5 Throwing Stars 8's & 9's, FK-451 235/45s & 255/40s, M5 Sway Bars 25/20, Conforti chip, Lowes Ram Air, glass sunroof