For the record, my method, the "Time Machine" way, is live, I am able to combine levels of different sound sources from multi mic gtr set ups all in phase, then commit by routing to one mono or stereo track, done and dusted.. I dont think I could ever track some stuff then "hope for the best" and spend time AFTER the overdub messing around bringing it all into 'better phase'.
Alpha check the Time Machine way out sometime!