You know, I've tried doing the same thing a number of times and the only way that it has worked, is when the drum track is laid down first.
I know that we all should be better musicians and have better timing, but that isn't the case 99% of the time. For some reason, it's very hard for most drummers ( that I've worked with ) to play to other instruments or a click track - even if they are perfectly in time. I think's it's just part of the push/pull in timing that occurs when playing live.
I know that many people reading this will just say "get a real drummer" but nevertheless this is what I've found. I've had great success when putting down the drum track first. It seems to be much easier to play guitar/bass to drums, even if they are a little off time.
The only problem I've had is that the drummer has to know the song perfectly. It's pretty easy to get lost in some songs (if you're the drummer) without any other instruments to listen to. Well, anyways what we finally did is just play a guitar along with the drummer but just ran it thru a headset to the drummer to keep the drum recording clean. Then the drummer would have the appropriate musical cue's for the song, and if there were guitar mistakes we'd just re-do the guitar track.
-jb