I send out an itinerary via email at the beginning of the week and the morning of the practice day stating what I want to accomplish. We're all original music and we practice twice a month for 3 hours at a clip. The first half-hour is usually a warm-up/jam thing which is recorded in case any cool ideas pop up that I go back to and find good chunks from to email as mp3s to the other guys. After that we work on newer material, flesh out arrangements, and things like that and then the last hour is do a couple of the finished songs and call it a night.
It works out pretty well for me. I don't run it like a drill sergeant as its all fun for us as opposed to a mean of income so no point in getting anal about it.
This is the exact same method I use. The ONLY difference (and I am not sure if it is a difference) - We record EVERYTHING - not just the warm-up.
I am a firm believer that if you are playing you are only able to fully appreciate small parts of what the band is really doing. Based on your position in the room, your mood, how complicated your part is, etc... it's very difficult to hear the band with an unbiased ear.
I don't know how many times I've felt like rehearsal just sucked only to listen to the playback on the way home to realize we actually sounded way better than I thought. Had I never listened, I'd have thought a perfectly fine session was bad and possibly made choices that were founded on bad information.
By recording everything and, just as importantly, LISTENING to everything, you get a 100% 'honest' representation of what you did. That way you can fix parts you may not have realized were broken or leave parts alone that you may have thought were off.
Probably more important than being able to correct a misconception about how the band sounded - a few years ago we were auditioning singers for a while and had I gone on my memory of the session rather than the recording, I'd have probably not realized how truly great the singer we have now was.
Because he as a new body and because of all the preoccupation I had with organizing, directing, overseeing, the mood I was in and trying to make sure what I was playing was on - AND because he was sort of understated, personality-wise, my overall impression of his audition was uneventful. But when I listened on the way home I was blown away! I shudder to think of how easily we could have passed on him had we not had the benefit of the recording.
The recording won't lie and it will provide you that unbiased representation of how you sounded. Even better - the recording will help you NOT miss things that you shouldn't miss.