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COMP might be the speech compressor level.
As for Delay... that would appear to be scan delay.
The manual? here it is:
I'll be looking up my initial opinion there, meanwhile.
OK, here's the word from the manual:
DELAY serves to set the CW semi-break-in timing. (Page 20 of manual.)
COMP sure enough, is speech processor compression. (Page 19 of manual.)
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