I like to break songs down into sections, loop each section and record multiple passes. I dont consider it cheating. if Im getting a better result, faster, than why is it cheating? I think that it is the best way to get perfect performances out of musicians. its more organized and it makes it easier for me to pick up on their (or my) mistakes and help them(me) pinpoint where they are going wrong with technique or whatever is making that part sloppy.
Ive never understood the whole "your only a man if you record entire songs in one pass" idea. It would be nice to be able to do that all the time, but in reality most musicians (myself included) benefit from taking a break sections.just make sure that you punch in a couple bars before the end of the last recorded section when needed.