What is the best HTTP Compression profile settings?

Are you load balancing a CDN?

I'd disagree regarding the 1MB figure myself but my real point is that decision was probably taken in the context of a very specific infrastructure architecture (and related devices) relevant only to a single provider, presumably where the clients would be fairly 'local' and there would be little latency. Considering the minimal CPU overhead compression introduces on an F5, I see no point in setting a maximum. The bigger the file, the greater the benefits in my view.

Anyway, back to your question, no you can't set a maximum. It would be virtually impossible with most traffic anyway as its chunked and there is no way to determine what the total response size will be. Of course, if you're serving files that are mostly over a maximum you've decided on, you can just exclude them by Content Type.