It's important to differentiate "producing" and "engineering".
The way I see it, producing is a very creative activity - you're building an effective flow, making the song exciting, all of that.
Engineering is more about making things sound correct - there's definitely some overlap with production, but there's also good, sensible use of one's tools - level setting, eqing, compression. There are times when you'll want to get very creative with compression, times when you just want to compress something effectively.
It sounds to me like you're touching on the engineering aspect here - improving the sound quality of your productions, rather than creative use of effects. You could work on these at the same time you're working on songs (and most of us do, we just pick up the engineering skills as we go along), or you could set aside specific sessions for improving your engineering skills. Either try remixing one of your favourite songs and make note of what you still need to work on, or use a generic progression/melody to construct a nice set of sounds around, so you're focusing on getting a nice set of sounds together rather than trying to compose as you go.
Something you might like to try is scheduling maybe a 5 hour block of production time, and aim to have 5 quality sets of sounds together - so each hour, put together a kick, bass, pad, melody, hihat, snare/clap, and whatever else, just a 4 or 8 bar loop. Then at the end of the 5 hours, listen to the 5 loops. I've always found it quite interesting to note how some sound great, some don't really work at all. I learned how important it is to get sounds which fit well together, before any eq, compression, fx (well...a reverb on a send bus...). It makes the mixing process so much easier if the sounds work well together straight up.
Not sure if that really answered your question. I personally split my composition and production sessions. When I'm composing, I'm composing. The melody has to work as a melody, whether it's going to be played by a synth, a guitar, sung or whatever. Plenty of time later on to turn it into a song.
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