Welcome.
I can answer your questions. But just to let you know, we have a great search function here where just about any and every question on hardwood floors has been asked and answered many times. So for some of you newbies, if you need an answer quickly or in more depth, you can try searching for your subject with the search function.
But to answer your question. No, you should not use any "leveling/patching" compound over a wood subfloor where you plan on driving nails into it. You could use it, assuming you used the right one, for a floating floor or a glued down floor. Just not a mechanically fastened floor. There are other methods for leveling low spots. Wood shims, 30 lb. asphalt felt layered up, asphalt roofing shingles and thin plywood are the common materials used to fill in low places on a wood subfloor. These materials are often glued and/or nailed/stapled into place and sanded down flush when necessary.
As far as stair nosing, a quality construction adhesive is usually enough to hold a stair nose securely, assuming you get a real good bond. I will often use some small finish nails to hold it till the adhesive dries. Try to hide the nail in a dark, grainy portion of the wood trim. Then fill the small hole with a matching colored nail hole putty.
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