Normalization - recommended max level?

After recording I normalize all tracks so that all levels are in the same ballpark.
But I am always torn as to what max level to use. 0.0dB is tempting but bad for so many reasons.
So what should one aim for? I believe Redbook states max levels for CD but
that's really only a consideration when mastering. Do others face this dilemma?
Any recommendations?

Cuitlahac's advice is sound. However if you are going to normalize, leave some headroom - at least -1 dB. For acidized loops, I'd recommend at least -3 dB as the stretching process can produce additive phase relationships.

Cactus Music
My little trick is to normalize tracks to a target of where they will sit in the mix. 
So I might put bass at -4 and backing vocals to -6. 
My goal is all faders at unity or close. 
This is the way I do live sound too. 

More good advice. Hopefully sometime in the future I'll play someplace where you're doing live sound

Sounds like I work much like Cactus. Time pressure, live band recording, no idea what's going to happen on stage, no second chances. So generous headroom is priority #1.
Gain-staging is out because I need to exchange tracks with collaborating partners. And it's time-consuming.
 
In the old days I normalized externally in Sound Forge/Wavelab/Audacity before I discovered Sonar has normalization.
 
As Cactus also points out, peaks are a problem here, too. I find expecially in a small non-distortion based band (typically 3-piece jazz/blues outfits) waveforms may momentarily reinforce to produce a fluke peaking half-wave that messes with normalization.
 
Thanks for the tips. So no hard-and-fast rules, but 0dB is clearly bad, and, I shall revisit Wavelab.
 
 

-.02 is for mastering and I don't think Sonars Normalizer can be tuned that fine. For tracking  -1 I think is the closest you get to zero. Not at my DAW so cannot conferm.  
 
 
 
 

Cactus Music
-.02 is for mastering and I don't think Sonars Normalizer can be tuned that fine. For tracking  -1 I think is the closest you get to zero. Not at my DAW so cannot conferm.  

Correct, SONAR normalizes in 1 dB increments. However, note that getting too close to 0 can result in inter-sample distortion on playback after the digital signal goes through the smoothing filter. Use SSL's free X-ISM plug-in to check.

Don't do it => no problem.
Why do destructive editing?

Adq
Don't do it => no problem.
Why do destructive editing?

This has been explained already. Because gain-staging is time-consuming and to ease exchange with collaborating partners.
 
Besides, what gets destroyed? It's 24bit depth.

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.

FUDS = Fear, Uncertainty, Doubt System.
Successful marketing tool.