Okay, let me see if I understand you here. I'm slow, so bear with me.
Usually what I do... ...record first, as a single track per reel/LP/cassette/whetever, then take the digitized recording and split it into multiple tracks,
Split it into multiple tracks onto what? The computer? So, using the software, I would record the cassette onto the computer as a single track. Then I would take that single, now-digitized recording and then split it back out into multiple tracks.
Does that mean you can re-separate or re-split the individual tracks back out into their original place -- like they were on the original cassette?! (Lead voice in center of stereo on track 1, drums on track 2, backup vocals on track 3, lead guitar on track 4, bass guitar on track 5, etc., etc.). This would be awesome, but I'm probably misunderstanding you.
...clean them up, and burn the individual tracks onto a single CD to recreate the album. That way, you're not burning something raw and unedited to CD, only to burn them again later when you're done tweaking them.
I'm confused. But it's not your fault. Let me take a break and take care of some business that's distracting me and I'll come back.
Let me try to reword it. What I mean is, I record a single side of the album (cassette, whatever) as one long audio file. Basically, I hit "play", start recording, and come back a half-hour later, or whenever it's done recording the whole "A" side of the album. Then, I use the editing software to split that one long audio file into individual songs. Then I burn those individual songs onto the CD, so that you can treat it like a real audio CD and jump from track to track. So when I record, the recording is actually one big file that has several songs in it. Then I split that one big file into several smaller files, one for each song. Hopefully that's clearer ;)
(Lead voice in center of stereo on track 1, drums on track 2, backup vocals on track 3, lead guitar on track 4, bass guitar on track 5, etc., etc.). This would be awesome, but I'm probably misunderstanding you.
That would be awesome, but unless you have access to the original multitrack master recordings, a multitrack deck to play them back with, and multitrack editing software to edit them, that's not going to happen. IOW, you'll need something close to a real, live edit suite for that ;)