Clay-
Giving everything their own slot in the mix is a good way to go, in fact, thats the basic principal of a good mix, but there's more than one way to achieve that. Different frequency characteristics of sounds help to seperate them ie a bass guitar won't normally mask a flute. Spacial character also helps to give things their own slot as well, ie a short reverb will bring a vocal out of the mix but a long dense one will set it farther back. And then theres always good ol' volume and panning to give seperation. Try listening closely to some of your favorite recordings (with headphones and speakers) and analyze where things are placed in the stereo field. Rarely in pop music (except some Leslie Gore records) are the drums panned hard left or right. Usually, the drums are panned as if your sitting on the drum throne... Snare, kick in the center, high hat at 9 oclock, cymbals left and right, toms panned from high to low from left to right. Usually you want the bass guitar and kick and snare to work together, this the almighty beat backbone of your song so they should be panned in the same spot. Of course, there are no rules about this, it's just tried and true methods. Also, you should check your mixes in mono... when you have hard pans you'll notice those instruments being to low when you mono out your mix. As far as making your drums sound better, you can try experimenting with adding more verb, but be careful you don't want lots of verb on a kick drum. Again, listen to some of your faves and try to emulate them (as an excercise of course), and then give it your own twist.
Sheesh, I could go on and on...
Jon