I think that we each decide what we want out of it. Personally, I find the chord work easier (depending upon the song of course) than some of the lead work, and when learning songs will often get the song to the point where I can jam to it, and leave the fancy picking alone.Case in point, is Working Man. I can't realistically see me ever getting the lead down. So what I do when it comes to the lead parts? I just play short muted chords in key and it seems to work ok. Nobody is paying me to play so I give myself a great deal of lattitude. If all you wanted to focus on were "notes", I don't see why you couldn't do the same in reverse. Then when it comes your time in the song... let 'er rip and go like Eddie.

Personally speaking I have tried to apply a fuller approach, but I do enjoy trying my hand at writing licks and laying them down over jam tracks.