I prefer to commit to a sound on the way in if I am tracking in my studio. Simply because with dry tracking, you leave yourself, and the artist with too many choices. This can lead to complications down the road with the artist, or you, wanting to constantly change the tone of say the guitars. If you commit on the way in, that IS the tone. That being said, I also print a DI track just in case.
I find myself sometimes using Warren's DI track if I am changing the production, but usually I use the amp track/tracks for a straight up mix.
One problem with tracking with plugins is latency. You can compensate for that by adjusting your buffer size, but it doesn't always get rid of it completely. Depends a lot on your interface, and DAW.
Now if you use UAD interfaces and plugins, you can track through those without fear of latency, or overloading your CPU.
Hope that helps answer your questions!