My approach...
I set my camera to 1/125th
I decide what aperture I WANT to shoot at (from a creative POV)
I then set the power of the background lights using a meter to the amount of F stops above or under I want them to be over my base setting
I then check that the bounce back from the background is OK with a meter at the subject position
I then turn off the background lights, and light the subject with separate lights, I use a meter to ensure these match up with my camera settings, adjusting out the power of the main light as needed
I then visually balance out the fill light
I visually balance the hair light
The key to this is treating the background and foreground as 2 different entities, and ensuring you have enough separation between them
Obviously a your choice of background colour makes some difference to the background lighting settings
Read this:
http://www.zarias.com/white-seamless-tutorial-part-1-gear-space/
Zack makes a really interesting point about separating the background from the subject, in this case using bi-fold doors. Other flash experts dont bother. The amount of stops people quote between background and foreground is a bone of contention, the reality is that physical separation is very important in most cases if you want a pure white white background