First of all, I think you underestimate the cost in metalminds that this entails.
Second, you are missing something. We have this at the end of the "storing compounded charges" paragraph:
You canít store more
charges per action or roll than your Feruchemy rating, nor can you store more
charges per hour than the normal limit of your metal.
So the most you can store in an hour for a vanilla Compounder (with appropriately high base stats to support full-efficiency storing) is 40. If you start out with 1 charge, you go:
Burn 1, store 2: 2 in storage
Burn 2 store 4: 4 in storage
Burn 4 store 8: 8 in storage
-At this point you're actually burning 2 and storing 4 each action, since you're limited by your Feruchemy rating, but let's just compress it down for sake of brevity. I stop at 4 because that's also the limit for your Allomancy
Burn 4 store 8: 12 in storage
Burn 4 store 8: 16 in storage
Burn 4 store 8: 20 in storage
Burn 4 store 8: 24 in storage
-38 charges stored in an hour, 2 left to use.
Burn 1 store 2: 25 in storage.
At this point you've stored 40 charges (actually walking away with only 24 of them) and burned off 20 charges worth of metalmind over the course of 13 actions. Now you get to wait an hour in-game before storing anymore.
As I've come to realize myself (and as Kadrok more succinctly put it), if your character is a Compounder than really the only viable way to do it is treat his Feruchemy like an Allomantic power: it's simply not worth it to store Compounded charges the majority of the time. Just burning off that first charge nets you half the power you got after all that hullabaloo. If you're a Compounder, you're best off just taking your Breather-acquired charges and relying on them until the next Breather: 120 charges becomes 1200 that way.