The theory that I've heard says that the mic should aim at the mid point between the speaker dome and the edge. It depends how much time you have to experiment.
Last few times I recorded the engineer just shoved it through a DI box.
One major tip about recording bands however:-
You WILL overrun. Your bass can be re-recorded later. The most important thing is to release any ego you may have and spend the time helping to get the drum kit right, because that is the one part you can't go back and fix. It will pay you more than double to do this.
And DEFFINATLY budget to buy and keep the masters
