That's been my approach too for a long time.
My shortcoming with that approach is now I've been playing for 19 years and have very little in the way of "acceptable recordings" (stuff I'm happy with) so I've had to force myself into recording even if I feel I'm not ready. As you mentioned, it can become a battle of either fighting with the song for a good take, or accepting the mistakes and considering it done even when it feels like I could've done better.
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