No, even the stuff labeled "Compost" at HD and the other box stores isn't very good compost. The best place to buy compost is at a local nursery or garden center. Buy it in bulk. It's much less expensive that way.

-Deerslayer

I agree 100%. If you want compost and find it at a nursery, check the fragrance. It should smell very fresh. Also when you put a little in your hand, you should not see any tiny crystals of sand. Sometimes sand is used as a filler. If you see some, the cost should be considerably discounted.

What are you using it for?

I was going to use it as a top dressing over the lawn after seeding. My local nursery sells a compost/peat moss mixture. Is that any good?

The reason people use topdressing after seeding is because they are not aware of using a roller. The purpose of the topdressing is to ensure good seed-to-soil contact. If you roll the seed down with a water fillable roller, you get the same effect.

If you are still going to use topdressing, then any topdressing will work. You don't need much at all. Apply at a rate of 2.7 (or 3) cubic feet per 100 square feet.