I record mine similiar to the way "to the genesys" stated. Typically the drums are already recorded in stereo so most often no need for panning, maybe a volume adjustment though. I would set mine up according to the type of song I'm doing. Most often I'll pan my bass to the left about -15 or -20, then drop the volume a bit. Any piano accomp typically stays dead center, ryh. guitar gets panned to the right +20 to +25, and volume adjustment as well, and so on. Then when recording soloed instruments stay dead center and then have volume adjustments.

Squeak