i have personally tried to learn theory and can get no where withit. its like a foriegn language; there are a few words an phrases i understand but not much else. the extent of my theory goes upto and not very far past how to use pentatonics, the only other scale i know is the harmonic minor just cos however you play it it sounds good, don't think there is a bad phrase you can make withit.
i reckon i get by quite well without theory, ill try to make up my own chords to get a different sound and i can hear if what im playing sounds bad and have enough creativity/patience to sit ad mess with my guitar playing untill i get somethin good. and besides that i have never thought out a tune or song they have come to me when playin so i dunno how much theory would benefit me anyway.