My workflow may be different from others, as I'm primarily a one man band, but I don't see the point of "baking" the pre-dubs anymore. With the flexibility of non-linear DAWs and (relatively) low cost of storage space, my finished "pre-dubs" are simply Pro Tools sessions that I compile into one larger session. It may be necessary to bounce multiple tracks together if there's a shortage of voices, of course, but I do my utmost to compact in such a way that I am not locked into a decision. When I get into the full mix session.
Following on from that, I do a lot of work at the pre-dub/pre-mix phase. I'll do leveling, relatively precise panning, basic noise reduction, EQ for matching between takes, transient compression and enhancement wherever necessary, etc. I do the bulk of my processing as inserts on tracks, and will revise as necessary once I hear everything in context. That usually means I'm pushing a bit of processing a little harder, not backing off. For me, the point of the pre-dub is to simplify the work left during the mix; strip away the low-level sound decisions and focus on specific moments. When I pull all of the pre-dub sessions into the master mix session, everything should behave similar to how I feel the rough mix needs to sound. Then we can spend time evaluating what works and what needs to be amended. Using sessions instead of traditional pre-dub files leaves a ton of flexibility for that process.