Hey Rob. You certainly know your stuff. I know this for a fact, because I’ve been a working professional at this for nearly ten years and spend every week since that time making mistakes and learning from them. I also incorporate 99 percent of your suggestions here and believe it folks they work, if used properly. Very informative and practical. Thanks, Rob.

You start off each job as a producer, consulting your client and getting briefed on the project at hand. Then you become an engineer, dealing with recording gear and software, setting the mic position and levels. Next, you step up to the mic as an actor, bringing the script off the page and connecting with the listener. Meanwhile, the director in you sits behind the metaphorical glass, making sure the actor doesn't mispronounce a word or stumble through a passage of text. Then you're an editor, cleaning up the best take and sending the resulting audio to your client. You need to be able to perform all of these roles to a high standard, and the better you are at each, the more your business will prosper. 

It's only after this sort of processing that I'll start cleaning up the recording and dealing with the gaps of silence between spoken passages. A noise gate (or an off‑line 'strip‑silence' function) can be used to automatically mute sections that fall below a certain level. However, if not used carefully, these tools will clip the 'T's and 'P's off the ends of words, and shut out natural breathing sounds. Worse, if your recording is noisy, a noise gate will actually draw attention to the problem, since your client will be able to hear the difference between room tone and absolute muting. Another trick is to use a downward expander to reduce the noise floor of quiet sections, rather than cut out the noise completely.
Hiring a voice actor can be intimidating, especially if you have not done it before. After all, the voice that reads your script is the most powerful connector you have with your audience — the voice quality brings emotion and a sensory experience to your video. Here are a few guidelines to managing your search and relationship with voice over talent.
"The editing process for all our titles starts with receiving the Pro Tools sessions or WAV files and the engineer's script, which has the markings of how many takes there were, and which ones the director liked best. In some cases, I use Strip Silence and add a bed of room tone to expedite the assembly edit. In others I'll add the room tone as I move through the audio. Once I had all the final takes to be used in [Favorite African Folk Tales], I went back to do a fine‑edit pass and created notes on any issues, such as misreads, mispronunciations, noises, and so on. With that list, I was able to discuss with Alfre how we would address the issues. Since the actors' schedules did not permit them to come back in to do pick‑ups I had to do some creative editing.”
Some of you might be wondering about the difference between voice over and narration. The short answer: not much. In most cases, you may use voice over and narration fairly interchangeably. However, to be technically correct, narration typically refers to an audio vocal that describes all the action on screen or tells a story based on what’s happening, while voice over may or may not describe as much action and is often more instructional in nature.
A great performance recorded on mediocre gear will always sound better than a mediocre performance recorded on great gear. By preparing well, before the session, you'll find it far easier to relax and focus on the message and the listener. As a producer, it's important to be clear what the expected format is for the final audio file. Although there are certain 'standards', your clients' expectations will vary.Read through the script, look up any questionable words and check their pronunciation. For American English, which accounts for the majority of my work, my favourite pronunciation resource is the Merriam‑Webster on‑line dictionary (www.m‑w.com), which includes audio examples. If you don't know how to pronounce the name of a company or product, call the company's customer service centre (if anyone can pronounce it right, they can!). If you don't know how to pronounce the name of a person or city, try searching YouTube for news reports on the subject.
As the engineer, your key job is to select and set up the recording space, choose and position the microphone, set levels and make sure you're recording a good, clean signal at a healthy level. Like music, the louder the signal you want to record, the less audible the noise floor, but you don't want to have to speak louder than sounds natural, and you don't want to overcook things when tracking: any distortion will be very noticeable on an exposed voice part, and an otherwise great take with digital clipping won't be acceptable. If you notice clipping only when you start editing, software clip restoration tools might help to make the take usable, but it's not going to be perfect. Remember that although you may have needed to record 'hot' on analogue tape and older 16‑bit digital recording systems, modern 24‑bit A‑D converters can accommodate a much wider dynamic range, so you no longer have to track so loud: you can leave much more headroom.
Always keep it professional. A client may not have a budget that works within your rates presently, but one day they may have a project with a much larger budget and think of you as the talent to circle back to! It never hurts to politely decline when a project has too low of a rate and exclaim, “I would love to work with you in the future when our rates align!”
Your own voice is your most important piece of equipment. If you're new to the voice-acting world, look around to see if there are classes or coaching in your area. Outside of class, practice speaking clearly and confidently. Learn to do this even with material you've never seen before. It's also important to learn voice care – straining or injuring your voice can hurt you and your career.
At this point — unless you're tracking for broadcast applications (where they don't work to peak levels) — consider 'normalising' your recording to an optimal level. Normalisation can be used to push the loudest peak to around ‑1dB and increase the volume of the entire recording by the same ratio. Of course, you can also tighten up dynamic range (the difference between the softest and loudest parts of your recording) by manually reducing the loudest sections of the recording before you apply normalisation. On a final note, if you do plan to use a compressor, then you might as well add gain at that stage instead of normalising.