Reduce HF on mono. Reduce LF on stereo
Funny, I usually do the opposite
I really regret not m/s eqing years ago; it's just a lot easier and better for cleaning up and +/-ing the mix space.
Once sterophonic sound was available to the masses a lot of music had drastic stereo separation going on to experience and experiment with, like albums from the late 50's and 60's, so L/R eq can be handy for that.
If you like how the source is for the most part, you can just keep the default mode and do a little tweak for it to sit better in the mix, if it needs it.
Alot of it can depend on the source material, then it's up to you to decide which mode you want to use.
The idea being that bass is more mono directional than stereo.
That's the nice thing about the m/s, you can have 2 different basses going, one for mono, one for stereo.
Not that they'd have to occupy the same freq range..I've been getting in the habit where the sub is the main bass in mono, but on the stereo side still have bass from sounds (not necassarily BASS) around 120hz and up. It's still clean. You can't get it in the same way with default mode.
M/S eq ftw.