Mix area(in small corner):
42" X 68" (too small?)
Do you mean to mix in the tiny room with two doors shown in the corner? Yes, that's way too small. For a room that size you'll do best to record and mix in the same room. I have a much larger home studio, and I do everything all in one room anyway because it's much easier.
Should I use 2" or 4" 703 on the ceiling?
Two inches is okay, but four is better. The thicker the material, the lower in frequency the effect of having a high ceiling extends to.
This will create at least a 2" gap. Do you think this will be enough? I will hang these individually to cover as much of the ceiling as possible.
Two inches thick with a two-inch air gap is almost as good as four inches thick attached right to the ceiling.
Other than that, what do you recommend for my room?
Here's my standard blurb - all rooms need:
* Broadband (not tuned) bass traps straddling as many corners as you can manage, including the wall-ceiling corners. More bass traps on the rear wall behind helps even further. You simply cannot have too much bass trapping. Real bass trapping, that is - thin foam and thin fiberglass don't work to a low enough frequency.
* Mid/high frequency absorption at the first reflection points on the side walls and ceiling.
* Some additional amount of mid/high absorption and/or diffusion on any large areas of bare parallel surfaces, such as opposing walls or the ceiling if the floor is reflective. Diffusion on the rear wall behind you is also useful in larger rooms.
For the complete story see the Forum FAQ.
There's a lot of additional non-sales technical information on my company's site - articles, videos, test tones and other downloads - linked under my name below.
--Ethan