I'm writing this as much to get a subscription link to this thread as I am to say that I finally have compiz working...at least on my new laptop. I am going to do some playing on my other laptop to see what really makes things work as opposed to theories without foundation.
Thanks to all those whose suggestions have brought me to functionality. As soon as I figure out exactly what got me working, I'll be sure to share it with everyone here.
EDIT:The other laptop is now running with compiz. I am using it right now, as a matter of fact. In getting to the point where I could get things working properly, I discovered something really interesting.
If you have added the following lines to your /etc/X11/xorg.conf file,
Option "AddARGBGLXVisuals" "True"
Option "DisableGLXRootClipping" "True"
...and you are still coming up with the "No GLXFBConfig..." error, and you have been using a custom kernel, you need to make sure that you change your option under
Character devices->Direct Rendering Manager-><your_driver>.
Make sure those drivers are set up as modules. If they are compiled directly into the kernel, you will get the error.
Hope that helps some people. It helped me!