I've been recording with my bad for our first time for a few months now and I've learned quite a bit.
I try and play as much of a song as I can, but if I screw up, I can start from a close by section. If you have a drum track, get that in first so you have a tempo, then you can worry about the guitar. If not drum, then definitely get a click track going at the proper tempo. From there, do your best to find a real nice sound, or as best as you can. Are you Recording acoustic or electric guitar? Regardless, just remember that if it's a bad recording, no about of post-production can fix it. A quote a heard once was: "You can't shine a turd." No matter how much work you do on it, it's still a turd.
