The approach is simple and the results are quite good. I've tried mixing tracks offline with programs like Cooledit, Cubase, Ableton but this method is the fastest so far. You can have a draft CD mix up and running in about 30 minutes. The tutorial also includes some ideas about mixing with EQ & FX envelopes.
Download 22mb (Example project files and mix are included):
There might be some typos, since I've wrote and compiled the tutorial quite fast.