Jack, an interesting question. I imagine that you might get as many answers as there are performers.
I'll try to give you conditions under which I record.

[*]First of all, everything that I play and record is done live with no tweaking of any kind.

[*]I seldom use the styles and voices as "out of the box" but,as Frank described, adjust the choice of styles and voices along with tweaking of levels, etc to suit the song as best as I can. Each change is saved to panel memory and I use the foot switch to increment the panel memory, except that the last panel memory that will be used has the foot switch set so as to return to memory number one.
This serves two purposes. To allow playing the song for as long as desired and to prevent switching to a blank or wrong panel memory by mistake.

[*]So far I have saved setups for about 140 songs this way and keep adding as time allows.

[*]I don't really worry about making anything perfect - just so that it can be enjoyed by my audience.

[*]Most of the songs that I have recorded have been recorded while actually playing for a dance or concert, others specifically for recording purposes.

[*]So far I have made three CD's totalling about 50 songs and have spent very little time doing so, since as I said, most were recorded while performing.

As you can imagine, most of the time spent is in the initial choosing of styles, voices, tweaking and saving to panel memory for each song. Of course practising each song is an on going process.
Walt