Here's an excellent video on the making of Pink Floyd's "Money." There are lot of great things illustrated here:
1) Old fashioned tape loops. Yes, in the days before digital, this is how it was done (I get nostalgic looking at the MCI 4 track).
2) Track layering. You can hear how there's usually a lot more going on in a record than what you think.
3) The use of of effects. Effects are used to place a track in an artificial acoustic space and you can hear how it works very well here.