seems like several of us keep repeating the same information over and over, take the highlights and run with it.
an interesting side note:
that clip that danny shows, the spike...
THIS is one of the reasons why you have to really watch your tracking.
if you allow PEAKS to sneak thru, at that moment it peaks, it will cause a digital distortion that, even if it's ultra fast, it will cause your mix to sound grainy, even as you mix it down.
this is why i suggested outboard compressors and limiters, and running conservative tracking levels.
once you have hit that ceiling going in, you are stuck with it.
a lot of folks get confused about the ability to use limiters and compressors AFTER the fact (after the signal has already hit the convertors) and that's all i'm trying to clear up.
there are a newer batch of preamps that have built in limiters and compressors, even if they are software, as long as they are upstream of the convertors, they are fair game.
whether they sound good or not, is another discussion.
irregardless of "K" metering and any of that, if you follow conservative rules, you'll always be safe, and splitting hairs about headroom is really pointless.