Not to cram as many notes into one bar is cool, and of course there are always those choice notes that sound better than just a bunch of notes... BUT... it's always nice to know that you CAN play with both speed and accuracy and also be able to choose the notes you want to play. I once saw a clinic by Billy Sheehan who is an incredibly talented bass player and can really shred, and he said that speed and technique can NEVER hurt your playing. It's just a matter of doing it with style. Filling a song with 16th note runs at 160 bpm might sound lame and boring but it's cool to be able to have the ability to do one or two phrases that demand that speed and sound fluent. Like Sheehan said in his clinic, it's nice to learn the all the rules (and I add, rules and technique) to then use what you want, need or best suits the song and not be limited by anything in your playing. I guess it's probably that 90's attitude that most players have towards technique, harmony and theory. For a while it was totally un-cool to be able to play fast or to know about scales and modes. I believe that's just being mediocre. There are SO many musicians that if you want to be the BEST (assuming we all want to be the best at what we do) you have to continue to build your chops in every aspect of your playing. You don't have to play like Vai or Malmsteen in your music; you can choose to play like Cobain or Slash, but it's better to know that you chose to do so and not end up playing like that because you can't do any better... and I have a feeling that the whole SIMPLE deal is dying out and that more and more, people want to hear the better educated and more talented musicians...but maybe that's just me.
Just my two cents,
Carlos