I track verses/choruses/whatever on different tracks fairly often, especially when they use different guitar settings (clean vs. distorted, as a simple example), or they have drastic differences in vocal intensity.
For me, it's just cleaner and simpler that way when mixing. You get the chance to have "custom" settings for each song segment. I suppose you could use automation, but I find that to be a pain in the ass so I only use it when absolutely necessary.