A good compromise is one put forth by a former domestic pro team director (and a former pro himself). He has a compact crank outfitted with 52/36 chainrings. The 36 is small enough to help with getting lower gears and a 52x11 gives up very little compared to a 53x11.
A recent issue of
Road Bike Action included an article on the "budget racer" version of the Specialized Allez, and it comes stock with an Apex drivetrain with a 52/36 crankset with an 11-28 cassette.