well, kind of yes. If you are a good engineer/ musician, and you have the very real, very expensive, very hard to find box then you might find yourself in the position to commit to tape what you are hearing. Whether you use outboard gear or plugins different people have different ways of working, and/ or some talented individuals can visualise what sounds will fit together in their head, therefore, know what is good to commit. Think George Martin and an 8-track and listen to how many sounds he has going on especially Sgt Pepper era... mind you I think he had a 16 track at that point, but you get the drift.
BUT, thing is with the real gear is that you won't have this latency delay problem when monitoring. You might not have a house either they cost so much but you know, that's a different scenario.
When you are in the computer/ plug in era, it's a bit of a different ball game. Computers can run lots of tracks with lots of effects but if you are doing it real time, this can cause issues. You plug in a guitar to your sound card, the sound goes in the computer, finds it's way to your audio software of choice, logic, it gets processed with effects, it goes out of logic, out of the computer, in to your headphones/ speakers for you to jam along to. That chain takes time and you can tweak it to reduce it, i.e. buffers, and in some cases the delay can be negliable, but when you start running plugins like neve, you have another link in the chain in the guise of another piece of hardware and software that the computer has to deal with. There is also a very real software integration code efficiency amongst manufacturers to be aware of too. It's all about physics at the end of the day! To make work you need time!
To the other extreme, however, workflows are still just as important. You have to commit to sounds somewhere along the line otherwise you will find yourself being an eternal knob tweaker rather than a music maker but again, depending on how you work and who you work with, will depend on how much flexibility you need with your sounds.
The best example I can give you is this. You record a vocalist and decide to compress it heavily to suit the style of music you're going for. You're confident to compress on the way in, so commit to that sound. There is an artistic change which requires a softer vocal... but because you recorded destructively, you can't undo. If it was applied afterwards you can simply call up the plug, redial it and off you go.
You might argue, re-record, but you might have to get the vocalist back in (time, availability, money), if the vocalist is you, you might not care about the previous bits but if it was a vibe you were going for, you may not be able to get it again. Right place right time right amount of alcohol.
Computers and plugins afford flexible productions. Flexible productions allow one person to be the composer, musician, engineer, producer, mixer and mastering boff. Some use it, some don't but don't think that your sounds will suffer when you tweak away during 'post'. Depending on what composition and arrangement you have, and what you have committed to 'tape' will determine what you need/ want to during 'mixdown'.
Hope that helps and yes I agree, Macprovid rocks :)