Well, once again, to make sure we're talking apples and apples, as matt put it, matt asked what levels he should be "mixing down at". I took that to mean - and I believe Jay and John did also - that he was talking about the levels when creating the 2mix, before any mastering has been applied.Another source of confusion here, I think. He doesn't want (or at least I would not recommend) that he use RMS metering on the main buss while mixing. The thing to watch for on the main buss is to make sure you're not clipping on the peaks; i.e. I'd prefer to have my master meters set to peak response during mixing.
The RMS metering - as relates to the issues discussed in this thread - is IMHO most needed on the individual track metering during recording, not on the master buss during mixing, and not even so much on the track meters during mixing. The whole idea behind the RMS metering as I see it related to this thread is in calibrating the input to the converter in cases like this where the converter itself has no useful metering. Put simply, if you have the input gain in the software set to unity, and you know the conversion factor on your converter, then you can use the RMS metering on the track input to act as a "close enough" proxy to having a VU meter on the converter. Just dial in ine input on the converter until the dbFS meter is bouncing somewhere close to the dbFS reading that equates to 0VU, and you're set pretty good. I assume Reaper will let you do that on the track meters as well.
Once mixing, I personally couldn't give a rat's ass what my digital RMS levels are. I know I came in recording my tracks at good levels, so it's just a matter of mixing them. The only level I'm worried about is to make sure I don't clip any peaks. I need peak level metering for that, both on the tracks and on the mix buss. The rest will be what it will be. The fact that the mix usually comes in for me at somewhere between -17 and -22 dBFS RMS is not a target taht I shoot for, it's just the way the cookie crumbles, and I only even know that out of pure curiosity by historically checking RMS levels after the mix is done.
G.