My experience has been that it is quicker to listen to the album play and start/stop the recording on a track by track basis. It seemed to take longer to split the large whole-album file into tracks.
What have you been finding?
I discarded that approach, perhaps in response to my hardware setup. I didn't want to be tied to the computer through the entire recording process, particularly with the display lags of VNC over wireless. For my setup it's easier to fire off a recording of one (or two) albums, and deal with the post-processing en masse.
It would be a bit faster to work at the recording machine directly, but my old-fashioned dislike of TVs in the living room (fka parlor) extends to computers.