In general this is how our sessions go:
Noon: Arrive at Meta
Noon-1pm: Setup gear, hit Record as soon as gear is setup, eat lunch, bullshit, etc.
1pm-2pm: Start the show, do introductions and launch straight into banter. Our banter also serves as a bit of a warm up for us.
2pm-3pm: Hit main show topic. Continue on with casual conversation.
3pm-4pm: Hit Stop button, clean up all the gear, re-locate out of our private room, bullshit more.
4pm-10pm: Gaming!
You'll notice that I don't stop recording from when I first hit the button. About every 45-60 minutes I do stop and save the project but other then that EVERYTHING that is said is recorded. I then pull our intro from something that we cut out of the show. If I ever forget to mention something earlier, I just say it and deal with it when I go to edit. If Audacity crashes, we restore and go on after listening to the last 30 seconds. If someone has to pee, they hold it until one of the pre-determined segment breaks. That first hour is when we make all of our decisions and from there out its unscripted. We don't even have an outline. We just talk.
I edit on Mondays after work. Typically from 5pm-9pm is spent editing, compiling, and publishing. Mike, Matt, or Art do show notes at some point in the week. Typically takes them 1-2 hours. Then we wash our hands of the abortion that is our podcast until the next Sunday.