depends on your drums...
Personal experience, I have owned a cheap and good drumset. For a cheap drumset with cheap heads kelangan talga ng muffling to give it an OK sound. Nagiging punchy ang tunog nya instead of a "boing" na para kang naglalaro sa loob ng malaking water tank. But with good drums, sayang lang kung i-muffle mo. Let the heads and drum resonate.
Muffling, ganda nga ng tissue and tape. it works and its cheap. Yung O-rings kasi masyadong pinapatay ang tunog. Nagiging cardboard nga.
For recording, nababasa ko kelangan i-muffle kasi hindi maganda pagdating sa recording yung too much resonance. No idea why pero yun ang sabi ng lahat ng nababasa ko. Isa akong hanap na ignorante sa drumming.hehe.