It's not dumb to love studying theory by any means. However, the way that you learn it is the key. Try to learn the kind of music that you want to, not the kind that your friends want you to. If you pick something like an obscure intrumental, they're likely to be a whole lot more impressed anyway. Odds are that they've never heard it before, so they have nothingto compare it to. Secondly, learn how the classical composers applied theory to their compositions (there are tons of rules involved, but it can be very beneficial to you). You might even try to do your own arrangements of classic songs. With all your background in scales and chords, you probably have quite an ear on you. Give it a whirl! I arrange stuff all of the time for my own pleasure (mind you, these are instrumental arrangements of lyric songs so you might not be interested in that kind of thing). Whatever makes you happy as a musician should be your motivation for learning. Keep on keepin' on.