I read the text several time, but found it confusing.
I attempted to graph the settings to better visualize.

Is this correct?
From the manual:
/comp:n Compression=n
Specifies how Image for Windows should compress backup files as they are created. Valid values for n are 0 through 15. The equivalent n values for the GUI compression options are as follows:
0 – None
1 – Standard
2 – Enhanced Size - A
7 – Enhanced Size - B
10 – Enhanced Size - C
11 – Enhanced Size - D
12 – Enhanced Size - E
13 – Enhanced Size - F
14 – Enhanced Speed - A
15 – Enhanced Speed - B
The Enhanced Size - D/E/F options are faster than Enhanced Size - A/B/C, but provide less compression. Backup files will normally be compressed more than the Standard option. Enhanced Size values 2-10 offer increased compression as the value increases at the expense of speed. Enhanced Size values 11-13 (D/E/F) offer slightly less compression at a faster speed than their 2/7/10 (A/B/C) counterparts.
The Enhanced Speed - A/B options offer decent compression with the emphasis on back up speed over backup file size. Backup files will normally be compressed less than the Standard option. Value 15 offers higher compression than 14 at the expense of speed.