I'd say that learning how to pre-produce your recordings is a necessary skill and art in itself...by the time my band is actually in the studio, we've recorded those songs in various demos many times. I already have the overdubs planned for and know that the leads will likely be comp'd, unless there's a part we're gonna do studio live, and I'll change my method accordingly. The rest of it is dial up a sound, know that I want it on these parts of these tracks, get those done, and move on to something else.
As
@unix-guy said, we record the base of it live, albeit to a click. In our case drums & most of the bass usually stay because I end up doubling rhythm guitar and like to listen/learn the as-recorded drum part to sync to that. Likewise with leads, I'll tailor them after the fact to meet the hits that the bass and drums are doing, but the original session is full band in a room. We've never done one purely 'drums first' and I doubt our drummer would even be up for that.
Meanwhile I grew up recording in my parents' basement by myself, playing everything. So I would do drum tracks solo having planned the entire thing out ahead of time...and I got some really convincing 'jams' recorded that way. But having other people involved changes your process, so you work with what you've got.
End of the day, is your recorded project intended to capture the 'song' or 'you'. Generally the stuff I've done we strive to get the song first, and then figure out later how to best do it live. If it matters learning the comp'd solo exactly, well...that's more work I made for myself. If I just want the solo on the record to be something I don't cringe when I listen to, I'll comp the shit out of it. Not saying the live solo will be shit, it'll just be maybe...less adventurous? than it is on the record. I'd rather a guy play something he's feeling in the moment that's less elaborate, than focus too much on trying to replicate an album track and lose the organic part of the performance.
That said - when my home recording setup was an 8-track with everything ready to go, drums/bass/guitar/key/etc, and I'd come home on weekends from college and bust out whatever songs I'd been thinkin of during the week. I was much more productive then vs now where I have the ability to be 'professional' about things.
There's something to be said for tracks where you just go for it, and there's no aligning of drum hits or pitch correction, you just hafta do it. I'm nowhere near as productive on my digital rig because I can make it more 'professional' - but it takes 10x the time and I dunno if the results warrant it. Those old recordings still make me smile because as a paid studio guy these days, there are a lot of risks I took that I'd never get away with or end up having to re-do a bunch of times. Just a snapshot of a different era of recording.
*biggest thing being drums. Not that I can't track live drums at my current place, but the stars aligned in that room in my parents' basement, and I got really good drum sounds with crap equipment in what should've been a crap space. My current room at my house is fine but I don't like the drum sounds and if I don't like that, there's no reason to bother going any further. If that changes and I can make the workflow better I hope to uncork that creative bottle again.