^^hahaha the rubber ball analogy was actually quite a clever way of describing peaks and average levels
Btw I had a private message about this sent to me today, so I'll just copy here what I wrote about how I do it, systematically. It is not the only way of doing it, but my mixes have improved since I adopted it. I don't like that feel of being lost, so that's why try and follow it most of the time. This also answers The-Zeronaut's question.
- trim input to ~0dBVU on every track (again, use Satson's, Klanghelm's or some other VU meter, that's the most intuitive way to do it IMO)
- apply plugins on channel inserts with unity gain in mind
- do desired balancing between tracks via channel faders
- send them to a buss (for ex. send close and OH mics to a drum buss). Repeat the same process on other tracks & busses (sums of vocals, guitars, keys, etc.)
- trim input on busses to ~0dBVU
- apply plugins on group channel inserts with unity gain in mind
- do desired balancing between busses via group channel faders
- send them to 2buss
- trim the 2buss' input to ~0dBVU. Apply plugins with unity gain in mind
If you do it like this, you will get output ~0dBVU on 2buss
while using plugins on their operating levels at all times, which can't be a bad thing since most of them are modeled with that in mind (even if some of them are not, it still is a good practice), and you will get good final 2buss level without unnecessary 'wasting' of fader resolution, which you need for automation.
edit:
Ohhhh, and if you mix into a buss compressor, this way you can 'calibrate' it with a ~0dBVU signal. You can use 1kHz test tone for that right at the very beginning, since you already know signal level you'll gonna feed it with even before you start any mixing (Michael Brauer does it too, and he's a master of buss compression, so he can't be that wrong
)!
Of course that it'll require some tweaking when you actually advance into later stage of the mix, but those tweaks shouldn't be too drastic (in fact, they should be quite minor), if you do it 'right'