4:1 ratio with a slow attack and medium release for snares. i think the problem with a lot of the advice given in this forum is that it is hard to hear what a compressor is doing if u dont know how to use one. eq generally is used to make things sit properly and correct sound errors, or as an effect. u wanna cut with an eq not boost, cause this will seriously expose any shortcomings an eq has especially digital.
layering snares and kicks goes without saying in getting a phat sound, but hip hop is also about punch and a compressor is the only effect that is going to give u that. once u learn how to use a comp, it will make your life so much easier. i can turn the weakest kick or snare unlayered into a phat sound just with an 1176ln.
i personally rarely use eq on snares, however i almost always use eq on kicks. my weapon of choice the pultec eqp-1a. i start to cut 60hz or 100hz depending on the bass.
eq will make an instrument cut through a mix but that punch is all about compression. hip hop started in nyc and the ny style of mixing is to over-do comppression. so learn it and learn it well.