{...} A really, really good system will give you the sound of jingling keys, cheaper (and cheaper, and cheaper...) systems will give you a series of muffled thumps as the compander circuit tries to deal. {...}
I think Sennheiser disagrees with your price/key-test-performance correlation: in my experience the HDX compander found in their cheaper gear tends to do
way better with the key test than their flagship HiDyn plus. Of course, if you throw a fader labelled "Chorus" and simultaneously open a few dozen channels-worth of SK 100 G4s, the audible noise floor increase makes it pretty clear why their flagship product has the more aggressive compander.
Digital isn't perfect, but one thing I
don't miss when using it is having to worry so much about the interactions between the companding circuit and the signal's contents.
-Russ