I've been doing this for years, in Adobe Audition. I track a lengthy segment, then cherry pick the good parts to build an arrangement. When the arrangement suits the song, I re-track along with the reference I just made, recording the entire song. This gives me two tracks to choose from, one for continuity; one for accuracy. Then I choose which parts to use, or for more color, pan them opposite and use both. I share files with composer friends and we build songs together. Have fun!