Record some basic tracks such as a live rhythm section.
Go back and record vocals, guitar, anything, or even re-record the bass WHILE monitoring the existing tracks.
The new tracks are EARLY!? by about 1/8 of a second. I can manually move the new track to line up, but this is impractical when recording vocals or any parts that require a lot of punching in.
MIDI is not used here at all. It’s all live.