[solidwalnut]

It's always going to depend on the song for me. It's also going to depend on whether it's acoustic or electric, and even then that's going to depend on what I want to hear and what else is competing for my horizontal space.

I'd say that my favorite way of going about acoustic is that when I stereo record, I use two different mics. These tracks get eq'd somewhat differently, depending on the rest of the song. Panning for me is often hard one side and only partial on the other side....often I like placing the guitar 25 - 25 on either side (dry) and multing one of the sides to another track and feed that side to an Aux that has an effect (verb or delay or phase or such) and blend that in, hard to one side or the other.

On electric rhythm, I'm usually a big fan of multiple takes and hard panning. But I've used a more centered approach as well.

Electric or acoustic lead I'll usually keep them closer towards the middle, but I'll often do the same trick as far as keeping it somewhat dry while multing a track and then sending that to an Aux track with an effect and blend to taste while hard panning it to one side or the other.

I should add that with the multing a track, that track itself often ends up supporting the middle.