In a word yes - sometimes. Depends on the style of the tune. I just mixing a cover bands material for a corporate gig package they were putting together.
One of the songs was Long Train Running (Doobie Brothers) - lots of crisp clean guitars and vocals. Lots of room on the low end and the bass line is a pretty important part of carrying the song. Can't remember how little I cut but it was not much. I thought the mix sounded pretty good .
They also did a version of All Small Things (Blink 182), which is pretty thick in terms of the sonic character of the song - not much frequency room anywhere. The bass line is more of a driving bass line - I had to roll off more bottom end to make room for the guitars and drums - I think the mix turned out well.
Long and short - there is no golden rule, bass roll off will vary according to the nature of the song you are mixing - but I almost always roll off some low end on Bass Guitar.
"In the time of chimpanzees I was a monkey" - Beck, Loser
"I do use compressors/limiters but not for controlling dynamics, I use EQ for that!" Jp22 (damn I miss him)
"Education is a progressive discovery of our own ignorance." -- Will Durant, historian (1885-1981)
"I try to get a boom out of the bass drum, in one of my albums, my CD, boom, I try to get that big boom, I could not get a big boom, I paid bucks, and could not get the boom" - Recording Expert, Tad Donley