I found this to be a great tutorial, and I think the fundamentals of the technique are well founded. I'll just point out that I tried to use the free VB-Audio instead of virtual audio cable, and it didn't turn out well. Just listening to the cable output without even going through vsthost created what seemed to be some kind of aliasing or Moire effect where some parasitic tones were created. I tried to match all the sample rates, and while this did change the character of the effect a little, it didn't remove it.
The real virtual audio cable works fine.
By the way is it normal to have spiky left right balance shifts at high frequencies? Is this more likely the headphones or my not so young ears? I guess as I ask it I realize the obvious way to find out.. turn the headphones around. I will be trying it shortly.