I enjoy using this style when accompanying a singer or horn player in a duo setting. It’s a nice change of pace from the usual roles of walking bass lines and comping à la Joe Pass, or playing a chord on every beat to mimic Freddie Green’s big-band rhythm sound.
The ideal mic''ing situation in many cases is to gain the control and isolation of a close-mic’d tone along with the depth, richness, and roomy natural vibe of a sound source mic’d at a bit of a distance.