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When using the K14 metering system in Elephant, one is really using this to set the final amount of compression/gain reduction - is that correct?  So, would the goal be to aim for an RMS reading of the final mix to right around 0 db?  Would this be the same as using pure metering and aiming for -14 RMS?

Please read about K-metering here: http://www.digido.com/level-practices-part-2-includes-the-k-system.html I followed this description during implementation of K-metering in Elephant.

Okay - thanks!

You are welcome!