While I generally agree with jozuph (people (including myself) were using compact cranksets long before the compact FDs came out) that it's a bit more marketing, I would think on a 50/34 (the 16 tooth spead is really the limit) the compact might work better, but I don't know. I use a standard Record FD on a 50/36, and there are no problems at all, not hard to adjust, no chain drop, etc.
50/34 is what I had the problem with. Always worked great on the stand. It only dropped under pressure with a fast shift when trying to keep momentum up a climb. I think the pressure and fast shift caused it to just launch right over the top of the 34 because there was no noise of the chain hitting the lower ring at all, and the FD couldn't have been adjusted any closer without rubbing in the lowest gear. 36 is probably high enough to snag it on the way down.
The compact FD does have that triple chainring, hairy leg taint about it but it did solve the problem. I could have solved it by altering my shifting technique too but didn't want to have to think about shifting again like back in the days of Simplex friction shifters (though they were very nice in their day).