I concur on it depending on the recordings. There are some recordings that beckon to be played back on location, while others have been sitting on my hard drive for months. It is important to have a process to make sure that all recorded material is eventually sifted through and 'nuggets' are found, labeled, and backed up.
Editing my field recordings seems faster and easier when I do it while the material is fresh on my mind so I try to edit as soon as I get back to the studio.
To conserve hard drive space I prefer to destructively edit my recordings. I copy my field recordings to a section on my 2TB "Sample Drive" labeled "96K Raw Files". I title each folder with the date, place, and subject matter; something like this, "08_26_10_Circle X Ranch_Grotto_Landslides_Metal Door". These files will remain there until I am finished editing after which they are deleted.
While editing I import these files into a Pro Tools session on my "Session Drive" named the same as the folder on my "Sample Drive". I go through and start deleting and finding the best moments from each file and create a separate region for each. I am not afraid to delete files completely in the process for redundancy and quality control. Files that are too soft are deleted because I want recordings with a decent level. Files with extranneous or otherwise unwanted sounds are also deleted. (I would rather re-record then spend any time trying to clean up a noisy or otherwise tainted field recording. That's just me though, and there definiteley are exceptions.)
Then I add some light eq and compression. I then go through and automate region by region for the appropriate settings for level, eq, and sometimes compression or limiters.
I then bounce each region to disk on my "Sound Library Drive" reserved for 'mastered' recordings. When bouncing each region I give it a very descriptive name similiar to blastwave, sounddogs, soundsnap, or hollywood edge's naming conventions. I also spent some time looking at how they categorize their sounds and have started to drop my sounds into appropriate categories on my "Sound Library Drive".
From here I plan to add metadata for all of the files eventually which will be beneficial down the road when I have more files then I can remember.
All 'designed effects' I like to keep separate from my 'mastered' raw field recordings. Then it is easy to get to those original files for new sound design material and I keep it fresh by not relying on other 'designed' sounds.
I also backup all of my drives but that process is way too boring to describe to you here.