batsbrew
this is why i like Har Bal so much,
it's probably the single best learning tool i have.

Same here. I don't use Har-Bal anymore. It made itself unnecessary in a few months, after it had helped me to
mix projects that were  logically respective (regarding frequency curve) to the songs I analyzed with it. Most likely, I'll revisit it one of these days.
Har-Bal and SPAN have been my most important VST-tutors.
 
There was a time when, after adjusting the track levels roughly, I made better mixes "half blind" trusting mostly SPAN, than trying to rely on my poor monitors. Still today, I mix the low end according to SPAN, as I don't have a sub. Or actually, I put the EQ slopes from my memory, the way I studied using SPAN and reference songs.

Thanks for your input Kalle 
 
I've been doing some more interwebs research... I found this particular article interesting:-
 
http://www.residentadvisor.net/feature.aspx?1895
 
And this rather old one from SOS:-
 
http://www.soundonsound.com/sos/1995_articles/mar95/eq.html
 

If I'm checking a whole mix just to see what the average is over the length of the tune, I set the spectrum to "average." But if I want to keep an eye on what is going on at each point in the mix, I set it to "real time average." I've decided that the "maximum" values are not as important, because it is the RMS (which is what I am assuming is meant by "average") that gives audio its perceived "loudness."

You got that exactly right.
 
Peak values are useless in this context. Short-term measurements are often misleading, but so can averages over the length of an entire song.
 
Imagine a dynamic song like Stairway to Heaven - averaging the whole song wouldn't yield any helpful information at all. (This, btw, is why I don't care much for Har-Bal.)
 
I prefer to consider averages (both spectral and volume) for song sections, e.g. intro / verse / chorus.

BTW, that low-mids article explains it very succinctly. Props to the author for not once referring to that band as the "mud range".
 

bitflipper
You got that exactly right.

Brilliant . That means I'm making progress with the understanding at least... Still working on the application...
 
And thanks for mentioning Stairway to Heaven. I need to drag that into my EQ Study project and give it some SPAN. Like you say, with some songs the overall average would only tell you what is going on in the busiest section. So, with something like StH you would need to keep an eye on each section, each quite long compared to a "normal" song.
 

bitflipper
BTW, that low-mids article explains it very succinctly. Props to the author for not once referring to that band as the "mud range".
 

 
Yeah, I'm glad I found that one. I think it is well written, and having the audio examples really helps too.