I'm wondering if anyone can help with this.
I have enabled AGC in Stereo Tool so the volume will be a bit more consistent, but I'm having trouble finding settings that sound fairly transparent.
Right now, I have it set to two-band mode with default settings except I have drive set to +15.0 dB, and attack and release for the second band (everything above 2000 Hz) are 200ms and 750ms, respectively.
This is a case where logic works better than any detailed "tech specs".
AGC is intended to avoid very low levels that will make a radio station... particularly in in-car listening... be buried in the road and background noise. The idea on one side is to artificially increase the levels no matter what the original producer of a song wanted or no matter what the levels are in a news report. On the other, the idea is to reduce anything that averages too much above the average level you want.
An AGC should work like a very good board operator. The approach should be humanized, so that you are simply adjusting the levels to make the sound neither too soft nor too loud. AGC is not a compressor nor a peak limiter. It's purpose is to avoid annoying listeners with audio that goes up and down, wildly sometimes, in volume between different elements.
And, with AGC, you don't want to pull up background noise, like, for example, the air conditioner in a studio during pauses in a person talking. So AGC has to be set so it works on average levels and not on very brief interludes of very low levels, like the pauses in speech. And its "threshold" (every device has an equivalent) set so that it does not amplify unwanted content.
Same goes for "loud" bits of audio. AGC should gently control levels... you don't want to compress the audio, just automatically ride gain. Your ear and a careful watch on a good VU meter (not just flashing LEDs) so you can set the dynamic range and the "feel" of the audio to your satisfaction. In such cases, having more than one person present helps.
And on that subject of "different strokes for different folks" you have to have both men and women and younger and older present.