Ultimately the mix will be a compromise that sounds the least worst on all the playback systems you have available to you. It's always a compromise one way or another. Some speakers emphasize things and de-emphasize things. So you look for a compromise that works reasonably well in all cases (including also some headphones, maybe your stereo in another room, etc...)
The things I've noticed most is that small speakers tend to have a raspy upper-mid, and will push the lower mids (or upper lows, according to how you look at it) to make up for the lack of ability to really reproduce the lower octave or so.
The former can make something like a drum room mic that just sounds nicely present on the big speakers suddenly sound like a harsh mess, or guitars that sound just nice and present become really ear splitting, that kind of thing. And at the other end, it seems to often push the lower vocal range up a lot so a vocal that seems to have no more weight than it requires on the nice speakers suddenly seems way out front and detached from the mix.
I hear those things on my mixes and other people's and commercial CDs sometimes as well. It's always a compromise, though I guess that most folks will opt to make sure it sounds good on smaller speakers and ear buds these days since the grand days of audiophile listeners is almost all but gone.
Definitely concentrating on the mid-range is a way to get a mix that sounds good everywhere, but when you listen on nice speakers it often sounds better with a more scooped approach because the low and high end sound so nice on those big speakers. Then you take to the small speakers and it manages to sound both tubby and harsh at the same time sometimes, it seems to me. Or sometimes it has no low end at all because the speakers can't reproduce the low end that sounds so great on the big speakers.
One example that comes to mind is some of Bruce Springsteen's earlier songs, which to me seem very mid-rangey sometimes, with very high passed bass and the kick drum is sometimes just a little popping sound more or less. But, it probably sounds about the same on any system I guess, since everything is in that range that anything can reproduce.
A lot of pro folks I've heard/read talk about this will argue for mixing on the small speakers, then use the big speakers at the end to make sure the low and high end aren't bad on the big speakers. It makes for a least common denominator mix, but that's kind of the point, since probably it'll sound pretty decent on smaller systems and not out of place on big ones.
post edited by droddey - 2011/02/25 20:03:05