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Not applying compression to a fresh injury is stupidity or ignorance. Compression will decrease swelling, and maintain the flow of nutrients to the damaged tissue. If the swelling is unhindered, will it restrict flow of nutrients, and the injury will heal slower. Increased swelling induces pain, and restricts the also important component, mobilization. That is, when possible without severe pain, should you excercise the injured part by movement drills (first, without resistance).
In regards to fast healing, is quick application of compression, even more important than ice. Ice numbs the pain, but also acts as a vasoconstrictor. It makes the vascular system contract (decreases flow of blood), and then makes the vessels relax and increase in diameter (increases flow).

RICE still stands, but M should be added. The order isn't necessarily RICEM.
Stop the activity. Compress the damaged area. Add ice 15-20min every hour. Elevate the injured part above your heart. When possible, start using the injured part (progression, so easy at first).

Kind regards
T

Thanks T, an excellent post.
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Gerry, there's a relevant download from the site here - The Treatment and Prevention of Common Ankle Injuries

I understood it was still significant in the case of more severe injuries. But its certainly interesting as I too know of people who have been treated for sprains etc and not had compression.

I wonder what other members think?

Welcome to the site T :)