Endless levels of undo in the digital domain have made people cowards with tracking. If you have a great sounding pedal compressor or rack unit, go ahead and track with it. Just make sure to take the extra time to really dial it in up front, and maybe use more mild settings (you can always run a plugin as well to add more, but you can't decompress later). Plus you could just split the signal and send one raw and one compressed.
Always remember, the plugin is just trying to recreate what the pedal is doing, using math. But sometimes transistors and capacitors and whatnot sound better than math. Now, I wouldn't use a $40 (B word) pedal to track with, but even a dynacomp or similar could yield really good results depending on the circumstances. And then it's one less plugin you have to put on your mix using up processor power and ram.