batsbrew
don't mix on cans alone.
 

This. Mix on cans. Go ahead. But check your mixes on real speakers. You'll notice why after you've checked a few of your headphone mixes on speakers.

+1 on the ATH-M50s! Changed my life!

Yup, great cans for the price. Easily beat out many more expensive models made for "beats" and the like.

Beer cans.  Turning them into empty cans is the best.

My AKG K240's sound really great for only $100.  Mixing on them is a joy.  But I  always have to check the mix on speakers.  And I check on about a half dozen different speakers systems in my home and car.  One example of where headphones alone don't work:  My Kick drum sounds nice and crisp in the headphones.  But I take the mix to some full range speakers and the kick is too bass heavy that I lose the click.  So I have to go back and tweak the high freqs on the kick.  I always AB my mix along with a commercial reference track (on each speaker system) to make sure the speakers are not the problem.  

I think guitartrek has the right idea. Even though you might thing you mix may sound great through your headphones, it's a good idea to use other speaker set ups as a double check. Yes, checking it on a set of ear buds is a good idea if you know your listeners will be using them.

I use headphones to get a rough mix and arrangement, including any FX that are integral to the song. Once I've done that, I copy the project and start adjusting the mix on monitors with a sub. If I get things all out of whack, I can always go back to my rough mix.
 
Even with lots of practice, I don't think I could ever get to a final mix on headphones alone. As Jeff said, reverb sounds very different once you take the headphones off. Also, the bass/kick is very hard to mix accurately with just headphones.
 
Regards,
Dan

I originally planned my whole studio around cans. My entire plan was to be mobile (had to, band recorded in another location down the street and mix/master was at my house). I envisioned sitting on the patio, watching the sun set/rise with cans on, mixing and mastering...oh so sublime. Well, then I woke up.
 

Of course, with bands, all things change! So after the NEW band started recording at my home, being mobile did not seem as important. I mixed probably 20 songs and they sounded like crap. I started with my Sony studio cans that, at the time I bought them in the early 90s, were considered excellent (again I am a beginner, so consider this as you read). Having never used them, they were in “like new” condition and sound incredible, but that means nothing in comparison to today’s highly efficient cans. I then started using another set of cans, noise canceling and cheap in comparison. My results did not change, but I learned an interesting lesson regarding how to mix to the cans or monitors’ one uses. My experience led me to two conclusions…stick with the Sony cans for now and BUY monitors to use as the preferred method!
 
After some microphone & cable upgrades and technique improvements, O.K. and some more experience under my belt, my new monitors have improved my mixing/mastering results immensely. In fact, there is no comparison, as monitors are the way to go, but if you can’t then definitely check on other systems. I still compare and contrast with the cans, Audiophile home stereo, cheap man cave stereo and car stereo, just to keep it real, as I can’t anticipate what anyone would be using to listen to my songs on. I can’t wait to finish the new mixing/mastering space, which has undergone acoustical treatments etc. I anticipate a whole new listening experience and another step forward in the learning process.