I have a hybrid setup. I compose and perform exclusively on Hardware but record in Ableton using Overbridge. All my Machines are synced with 5-pin MIDI cables. Digitakt is the Master giving Clock, Transport and Program Change to the others via a Kenton MIDI Thru.
I use OB (with the No Sync option) but I don’t record the individual Tracks. For each Machine used in a Song, I record its Stereo outputs (or Mono for Mono Synths) on a single Master Track in Ableton. I also use the inputs of my OB Elektrons for my other Synths/Machines to assure a tight sync between everything.
Now, the process. To my knowledge, I try to make the best mix possible of the Sounds in the Machine itself. I use an EQ plugin (mostly using LP or HP Filters) on each Track of the Song in Ableton to cut unnecessary frequencies. For Sounds in the Lows, I cut everything at a minimum 30 Hz to 60 Hz. For the other Sounds (Mid, Hi), I cut at 75 to 150 Hz minimum. I also cut high frequencies on bass Sounds. The minimal stuff. When the Song is performed Live and recorded on a single Stereo Track, I finish it with a slight touch of Ozone Elements (mostly to increase the Loudness of the Song). I’m no Expert in the mixing/mastering department, it’s not perfect but if it sounds good to my ears (I use them a lot), then, it’s good enough for me. I don’t let the Technique overshadowed the initial idea/feel of the moment.
The two Hardware devices that are a big part of my overall Sound are the Elektron Heat and OTO Boum (mainly on Master Bus).
I don’t know if it covers everything you wanted to know but if you have any other questions, don’t hesitate.
Edit : In general, it goes : compose a Pattern with a minimal mixing, warm it up with Heat and Boum, adjust mixing, hit record, jam, listen back, if it’s good, keep it, if not, rehearse and practice then hit record again…