Hi! I am a low budget producer, meaning that I have to use headphones to produce. I like to produce stereo effects by delaying the sound on one speaker a tiny bit, and applying a filter to simulate head shadow and ear distance. All the DAW's, however, have this stereo panner which is merely a volume knob. I wanted to know what is more common to do: whether to do mix-downs in binaural so that it suits headphone listening or just stereo, to suit speakers, or should I produce two mixes, in which case which one is suitable for distribution?

Binaural spacing is pretty much lost when you listen it through average speakers (or shouldn't it?) but it has the advantage of not being so prone to cancellation. Plain stereo, in the other hand sounds perfect in speakers, but it can be a bit irritating when listening in headphones, when you want to do a strong stereo effect.

What are your thoughts on this? please tell about your context, to understand the reasons behind your opinion..