Awesome guides on compression. Both of them really hit a lot of good points.
About carving space... I think there is too much emphasis here. Even a lot of pro mixers are on record saying that they dont pay it any mind.
I have a super minimalist approach to making space. I high pass the guitars somewhere around 100 so they dont argue with the meat of the bass
I high pass the bass at around 35 or so, which actually makes it tighter in most cases, and allow the kick drum as the only instrument to extend into the low lows. unless its a super boomy kick and also needs some sub lows cut to keep it tight.
I high pass the snare around 100-125 or so just to make sure it doesnt get down too low
almost everything else is accomplished with panning. Just putting things in places in the stereo field where they dont sit directly on top of another voice/instrument with a similar eq curve.
I mono test for curiosity, but i certainly wouldnt alter a mix to make it sound better in mono if said change didnt sound good in stereo
the only other 'space' trick I employ is when I have double tracked guitars. Assuming I have one panned left and the other right.... I take out 2 or 3 DB of some non essential frequency from the left channel, and boost that same non essential frequency by 2 or 3 db in the right channel. it tends to add a smidge more separation to the sound
If I really had a problem getting a certain instrument or voice heard over another instrument or voice at any specific time, I am much more likely to sidechain a compressor to duck the piece that isnt being featured rather than try to use EQ to try to shape sounds around one another