Yes and No, they have two recording blocks in one day, one from 9.45am til 1pm, and then 1pm til 6pm, in the longer block they provide you with a snack (or to be precise a 2 finger Twix and a carton of Princes Orange Juice) as they have a long break.
You can watch it for the whole day if you wanted to, but it's easier to go to a block.
When they do record they usually record 3 weeks worth on 3 days, usually Mon-Wed, I think more to suit Jeff's schedule if anything.
I went to watch it a fortnight ago and they were recording episodes for W/C September 13th, they've also got the week afterwarRAB recorded and then there's no more filming until September.