Strictly as a matter of Pro Tools in-the-box resolution and quality ... yes.
From a more practical, overall music/sound quality standpoint ... no.
We find that a lot of bands have the idea that they can track stuff in their practice space or home studio, and then bring it to professionals for mixing. Well over 90 percent of the time, this is a horrible idea.
Having an mBox doesn't mean you have the quality of room, equipment or recording skills to do your tracking right. The quickest way to a bad mix is mediocre tracking, and the quickest way to a great mix is great tracking.
Bad tracking can't be saved in the mix, and at any good studio, the best asset isn't the Pro Tools HD setup -- it's the acoustics and the professional engineers. And in that kind of environment, the music should end up better, too, because there's less frustration and impatience as time gets wasted.
We strongly urge bands to try to find the budget to at least track drums, vocals and any non-electric instruments at our studio, then do electric instruments, editing and comping at home.
We love to do the final mix, too, but there are an increasing number of professional producer-slash-mix-engineers who can do a very fine job out of their home studio, and I wouldn't say that's a bad idea -- assuming the mix engineer is highly competent. Although you do lose resolution outside the TDM realm.
JSL