Randy,
Sorry for the delay. Re your question: I agree with your approach. I'm a very big believer in getting the sound of an instrument as close as I can to how I want it to be in the mix when recording. Mic selection, placement + preamp selection are all critical, but I'll definitely use compression + eq when tracking drums, precussion, bass, gtr, keys (piano, organ, synth), + horns. With vocals I prefer to only compress + never eq while recording. It makes it much easier to match their sound for additional overdubs.
I never try to do in PT what I could before getting there. All analog v. digital issues aside I use the same philosphy presently when tracking to analog tape or previously when I used to record to digital tape. Why should you put it off? Get it sounding great now. One of my biggest reasons is that the musicians feed off of what they hear when tracking + overdubbing. The better the tracks sound, the more inspired they will be to give great performances.