My process
before you start, remember that your song will sound like the instruments you are playing. a fender solid state sucks for death metal, and you will NOT be able to shape it to a death guitar track. make your song sound as good as it can IN your recording space, with YOUR instruments. Thats how bands achieve having "their own sound."
also, an instrument WILL sound different in a mix and on its own. Its not an illusion. It has to do with acoustical physics.
1) sound check. record bits of what you are about to track. move the mic, work with amp EQ, etc. It has to sound as good as possible going into the mix, just to save yourself hassle later. Make sure your GAIN STAGING is solid. Whatever method you use really. I like leaving lots of headroom on everything.
2) take that demo track and eq it a little. see what you can do with it. if you need a lot of editing, consider changing the mic, position, or instrument.
3) if it eq's easily and nicely, save your EQ setting, and delete your EQ plug in (it will cause lag when you track)
4) track the instrument.
rinse and repeat for every track. don't add anything when you're tracking, but have your EQ's saved.
1) balance the levels of everything, in mono. make sure everything "fits" pretty well. It won't always be perfect but it should at least sound like a song.
2) I actually pan here. See where everything fits, and how far your overhead mics should be panned, rhythm guitars, percussion, etc. Panning is easy to change and is heavily preference based so don't sweat it. Also, don't wide pan unless you have to... i've found mostly centered mixes with stereo accents sound the most powerful.
3) get your EQ going again. remember that your previous EQ setting may not work anymore with all
the other instruments... however, if you TRACKED really well it should be okay, and you'll just need minor adjustments.
4) go to your volume automation and start lowering peaks manually. If you're really good with compressors and wanna do some math, this can be achieved with a plug in. Otherwise, DO MANUAL. Just level out the big peaks.
5) add light compression. SMOOTH, dont SQUASH. careful dynamics processing is how you get a loud bouncing mix. If everything has dynamics, AND is loud, you have a sick mix. Thats why dubstep is so powerful. There is constant CHANGE in the mix. Understand?
6) tamper with the compressor gain and track faders and re-balance. See whats to be done.
7) add limiters to anything that NEEDS IT. anything with distortion wont need it.
after this its up to you what effects you will add. if you are gonna squash parts of your track, you do it here. I would save your song here, and then in a new version, tamper and fudge with stuff to experiment.
Last, edit your master track. if you have a mastering engineer, i wouldn't do much other than TINY EQ and transparent compression. If you're a DIY master, do your eq, compression, multiband compression, and limiting.