Most of the Nashville musicians use Nashville notation in the studio. The arrangement of the song is written in intervals and are key-agnostic. So if a song is II-V-I it doesn't matter what key you start in.
The chording using the above method is fairly straight forward, but if you were transcribing a solo, it would be a bit more work.
You can check out the Nashville Number system here:
http://hubpages.com/hub/nashvillenumbers [This message has been edited by kbrkr (edited 11-13-2010).]