Probably not relevant for most applications but I manually set my completely raw/dry guitar/bass tracks to peak around -12db on average when I send them off to clients/collaborators. It'll go above that and below that throughout but if my peaks are generally around -12 it pretty much guarantees a good strong signal that never clips (unless I did something stupid like punch the pickups). Then once sims and effects are applied there is plenty of headroom.
The RMS values for that range tends to be around -22. I don't use the "Gain Normalize" feature. I just watch the meters, adjust my gain levels accordingly then export the tracks to new files.
Maybe not the most "standard" or "proper" method but it works and I've never had a complaint. I also have started doing it for myself. So once I've finished all my tracking and editing and ready to mix I'll do that, import those files into a brand new project and apply effects/mix with that. It actually makes mixing a lot easier because everything is all around the same volume and as I apply my effects (a lot of which are custom presets I've created) all the tracks increase in volume equally as I intend (or stay the same). My faders can stay close to the 0db mark. My busses remain consistent or I only have to group drag down faders of tracks feeding busses to get desired bus levels (which I find is great at around -6db to -8db which then sums nicely to around -3db in my "premaster" bus... which is enough headroom for slight mastering effects)....
and so on.
Again... probably not proper but it's the system I've been using just from simply playing around with this crap consistently for 4 years. It is kind of cobbled together from stuff I've read so not totally unique or blind though.
I should probably learn about the "K" system or other mixing systems/philosophies to augment it a bit (definitely need to learn more about RMS and LUFS and whatever) but just like my approach to music I think the "Beepster hacko" system may stick with me as an underlying fundamental.
You REALLY shouldn't listen to me though. I'm a hack. lol...
Check out the Techniques sub forum of this site. There have been a LOT of threads about this type of thing. There a guy who goes by Jeff Evans that is all over the "metering" stuff but of course many many other pros there too (and up here).
Cheers.
edited: because I typed "FUDS" instead of LUFS.
What in the frack is a "FUDS"?
lulz... stoopid brain.