I will think my best performances were the later takes. But most of the time I use the first and second takes with little bits from the later takes.

Interesting question! While there are always exceptions I do notice two trends.
 
Magic: is when you feel inspired to create which in turn inspires more creation.
 
And the corollary:if magic happens inspiration might flog it to death with numerous retakes. 
 
(I'm going to make that part of my signature. LOL)
 
A really good sign is to be inspired to continue on or return after a break and lay down a couple more for fun. 
Another good sign is to re record the whole thing from a different starting point and it'l take on a different feel and while it might be more professional it could be still lacking the initial magic.
 
If you are having fun then you tend to be creating so why not.
Going back to the first of the scratch tracks of a project can put it back on track.
 
The Origin:  I find usually an accidental of some sorts either a timing or liveliness from the seat of your pants type playing delivers a device that works.
 
I am primarily a bassist and almost always the key to a successful track to me is always the bass line. 
This is my bias:
 
I only play guitar to have something to play bass too.
And I really only play any instrument so I have something to mix. LOLOL
Okay I am stretching the truth.
 

For me it is always Take 2.
I usually record Take 1, then record Take 2 while singing along with Take 1.
Then I record Take 3 whilst Take 2 accompanies... but then, most times, it's Take 2 that makes the cut. Sometimes 1, sometimes 3, but very rarely 4 or 5.

chuckebaby
being spontaneous isn't something we can practice,
it happens, its original and once we practice something or get deep in to takes we lose that edge, that raw originality we had in the early stages of creating passages with long brush strokes.
 
I tend to stick to the earlier takes as that's where the magic is, once we polish it can sound to over produced.
I find some of my best material came as a young songwriter when I had reckless abandonment in arrangements.
not adhering to any special formula's. 
verse / bridge / chorus
 
...

^^^ WORD!

I was thinking that one factor for me is, if I'm recording something brand spanking new or something I have played a zillion times live. This makes for a totally different performance matrix. 
If it's something new, Then I will have to craft it into something worthwhile.
If it is something I have long experience with, it should be the first take is the best. But then recording always brings to light screw ups we didn't always notice on stage.... 

Although I agree with the above post, by variousartist I also disagree. The magic can also come from knowing a song well enough to perform it correctly. Whilst the magic may not be there for the performer still, it may just create it for the first time listener.
I just perform each take as many times as it takes for me to like it. Sometimes it's one, sometimes it's cobbled from 10 different takes.

Bibs

http://www.harmonycentral...ce-Curve/ba-p/34639192
The article was a good read. Thanks

What's comping?
 
Some if us get it right the first time.
 
 
Not me, BTW.
 
 
Seriously, I'm not a fan of comping (for me). I guess it's a throw back to tape days. Get it all in a take, and punch what I screw up. If the whole take has several screw ups, start over.

Ok, after reading your article, Craig... I'm the anything goes type and I find comping EXHILARATING!
 
I'm loving comping as it really allows for experimenting... For bass guitar, I am really enjoying laying down a simple part then comping wild things till my fingers freak.  As I'm using diva, Iceni (low orchestrals) more and more these days for the low end, bass guitar is no longer "bass" but a rhythmic instrument.  I rarely used it before this year but picked up a couple lovelies and am having a blast wanking geddy style and COMPING  makes this totally awesome... Just did an all nigher on a new song and when it came to bass, I never came close to the same part... just wildly free formed and it was totally rad.  Couldn't have done this without the comping tools....without a huge pain in the ars no fun edit... comping made it fun! Result is amazing!
 
Vocally, I'm doing something similar... I'll have a set of words (sometimes) and a basic structure (damage/some vst) but riff out along the way, trying different inflections or entirely different words/melodies.  Then, I'll comp for awhile and it really results in spontaneous combustion.
 
Harmonies are wonderful with comping... I like singing very high and very low parts, non traditional interweaves at times... and I'll lay down one to three tracks, with comps in each and again, start playing. Sometimes for basic harmonies it's just a great tool and can't really say which one nails it, although for high parts, earlier is better as I loose my throat control trying to do them...
 
All I can really say is I find comping to be the BEST thing I've ever experienced.  I've never spent so much time writing music.  It is hard to stop now, and fun to start!  I could never say that before, going back to Sonar 6... 

My best take is always the one when I'm not recording.  Well, that's my story and I'm sticking to it!  I've got to learn to hit record even when I'm just experimenting.