Back to the original topic... how to record mid/side. I don't think there is one right answer, just preferences, so I'll throw in mine.
A few years ago I had a UA-5 with the little knobs and I generally cranked the side to make the levels come out on my recorder the same as I did when running XY. When I got home, I really had no idea how much "extra boost" the side had, and so I would try to mix by ear, and went through many iterations. I think probably my mixes were very "side" heavy when all was said and done.
Now I have a V3 where I have the ability to dial in the gain just about identical on both channels, I generally prefer to do it that way. Or sometimes, I'll run my Side exactly 5db hotter, and write that down. Either way, when I go home, I know I can make a 50/50 mix. This is a good starting point which kind of corresponds to XY90, and then I tweak the mix to ear from there.
I understand what people are saying about "don't waste perfectly good headroom", but it seems to me that my mics and pre are so damn quiet I can't hear whatever it is that I'm supposedly wasting. I'm more into science than art perhaps, but I like being able to have that 50/50 known anchor point that I can start with and then deviate from.
Then I have another friend who runs Mid/side mics using a preamp that internally does mid/side -> XY mix on the fly. He thinks this is great, but I can't imagine doing that myself.