I think , statement "A mixing valve is always installed on the return line and a diverting valve on the supply line" is not 'always' correct because there are applications which mixing valves used in supply line and diverting valve used in return line as can be seen at links quark's post.
first,proportional control valves should not be mixed with 2-position "3-way valve" , secondly the control logic must be considered (constant flow or cnst.temperature)and pressure drop for both sides of 3-way valve should be calculated to ensure the valve work properly. (if it is not equally ballanced valve may be %50 open but fluid flows ,lets say, %40 because it 'always' prefers the easiest way).Pump location should also be considered.
I hope , I dont 'mix' too much
Ercan