Newest version: If there is anybody who wants to have fun finding all the design errors, have at it!
Since there are only two amps used, I'll switch this to a MC33078 that is a slightly cheaper dual package. This amp is pretty good, and I'm using it elsewhere on the board, but it can only do 7V/uSec slew. If the high frequencies respond too slow I'll find something more "slew-y-er".
I will tweak the value of C15 experimentally to make sure I'm capturing the peaks of very low frequency thumps.
With the higher values of R1, R20 I hope to avoid draining the holding cap E8, and I'll see how the high frequency response suffers (if at all).
R29 improves thermal "stuff" of the chip.
I left space for a 100pF cap in case it rings a bit too much.
If the high-frequency response is a bit slow in the zero-crossing point because the op-amp goes too negative then I hope adding D1 will keep it under control. If D1 don't help then it ain't going to be there.
R25 is there to protect the op-amp when power is turned off, there is potentially a lot of juice in that big 33uF. Otherwise, the 2nd stage is just a buffer/follower.
I want this to be a real slow decay. These indicators are not there to entertain me, they are there to show me how hot a signal I have, so I prefer the lights stay on too long in case I'm looking the other way. I really don't need another VU meter response, I want to set the mic gains to prevent clipping and move on to all the other recording tasks.
Just for fun, I added a super-peak hold to the top red clip LED. I hope that can keep the 0dB light on for a few seconds longer. I don't really know if the '33078 can dump that much charge into it the cap. I really don't need a precision rectifier in there as the peak voltage will be about 12 volts. I'll experiment to see how long the clip LED stays on. Again, if it don't work, it's outta there.