And I think its perfectly okay to go to some big music school and learn about theory, because that way, you know all the ins and outs, and song structures and harmonies would be much easyer to build. You'd still have to make them sound good though.
There is something Mike Mushok said once. Learn all the theory you can, then forget it. I could go and be this huge theory wiz, but I wouldn't look at writing music like, "Oh well I'm in C minor so I cant use this scale because bla bla bla.." I would just go "Well, thats a nice idea, oh look, its a harmonic minor scale, how bout that?"
Being taught or self taught is cool either way, but I think that whatever you do, you still must be able to make your guitar engoyable to listen too.
And God said, 'Let there be rock!'
-And it was good
-And it was good