Thanks, vdd. I've seen that video before, and in fact, I've learned a ton from Graham. Except that this technique as he described it didn't work for me. Granted, I used a free RMS meter, not the one he used, but the result when I did it was the bass guitar was WAAAY too quiet, it didn't make any sense. I also asked him on his blog post if he does this after EQ and compression or before, but I didn't see an answer.
I find that even if I hi-pass up to 60 or 80 Hz on bass and kick, it still can sound muddy on systems with a subwoofer, and I can't seem to get it sounding tight as it does on headphones or my monitors.