Everyone has there own way of recording distorted electric guitar. Some are better than others. Distortion is something I always struggle with...other than drums. There's always some trial and error involved. You have to consider, mics, mic placement, amp, guitar, pickups, player, room, and any other gear your using. Lots of factors to worry about.
I think Brandon Drury wrote a nice article here about recording distorted electric guitar. Take a look at it, there are some nice ideas here. I'll post more on this topic, as this is probably the toughest thing to get right in the home studio.
