I'm definitely "old school" but, then again,....I'm old!
I like the prospect of doing a live take all in one shot and feel it helps the overall feel of the instrumental to be consistent and "in the moment". I also know there's a limit to my skill with a DAW and that factors in as well, but the former is really the reason for my approach. Like folks have said, it could be several or "many" takes..5 or 25.......If I'm off, I'll pick things up the following day or when the additional practice takes hold for another shot.
If you know you're going to have to get a full clean take on a song, it raises the bar and allows you to really trust that each take will be one you'll knock out of the park. Doesn't happen often for me, but I approach each effort as though it will be "the one".