| What you are doing is what I refer to as "Carving Out Mixing". If done well there is definitely a place for it. In a dense mix, it is quite useful and neccessary. If AE's are saying they don't use this technique in a very busy production, than they are lying.
The thing I don't like is when mixers carve out sounds in a very open or sparse production. For Example, The Wallflowers first CD has a snare drum sound that is clearly made for a busier mix. It's really compressed and thin and would totally stand up in a dense production. But it's not needed here.
Sparse arrangements should have big fluffy sounds that take up the full EQ spectrum. Mostly because it's available. Listen to some Aimee Mann records.
My wife and I were listening to a Van Morrison CD (Moondance) the other day and she inquired why I don't make my drums sound more like his. Very 70's sounding, almost recorded with one or two mikes. I basically explained that with the music I do (pop/rock) that you wouldn't hear those drums in my mixes.
My advice to you:
Definitely don't solo each track and start carving before you consider the entire production. There is no correct EQ for each instrument in every song.
How many times have we mixed a bands three song demo and been so excited when you get to song 2, because the board is already set up from song 1 and all the tracks were recorded exactly the same way. Only to realize that it's not that easy. You still need to rebalance and change some EQ.
Start off by not carving things out at all. Record sounds as naturally as possible while considering the style of music you are recording. Eq, but subtle amounts.
See how good you can make a mix with little to no carving. And then slowly carve as needed. When it sounds like you can hear most instruments cleary (they don't all have to be in your face) and the balance feels right, you are done.
My theory is that the more you carve, the more modern it sounds. But it also loses a bit of timelessness. Some mush is a good thing. It's like a grilled cheese sandwich. You don't want to taste the cheese seperate from the bread. You want them to become one.
Peace
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