Not a fan, don't see how much good they'd be when recording a song with tempo changes.
In this day and age, it would be far easier to DI guitar & bass when laying down a drum track, so that there's no spill, and then overdub later. If your DI has amp & cab modelling capabilities, even better.
Must admit to being in the school of thought that using things like click tracks and recording each instrument individually takes something away from the "organic" feel of a group of people in a room, making music together. I appreciate that a recording engineer's job is difficult in this situation because of mic over-spill, but it's also part of their job to capture "the vibe" of a group of people in a room, making music together (IMO).
And don't get me started on studio processing...
Yes, we're about to go into the studio for some recording, and the engineer wants to use click-tracks and loads of processing. (sigh)