@ Table Of Tone - Hey, I like that idea ! Dynamic Range Day is intended to raise awareness in general, not just engineers and audio fans - but for those of us who already know and care, having another goal is a great idea ! I'm going to think about how to sell that one...
@ Happy MusicFan The short answer is - it's OK to peak right up to just below 0dB, but the RMS is better kept down to -10dB. A dynamic range of 8dB
for the loudest moments is the very loudest you should go, in my opinion.
For a more detailed answer, check out this post:
TT Dynamic Range Meter - How to avoid over-compressing your mix
Hope that helps ?
Ian