As far as playing other artist's classic solos note for note, I've heard Shawn Lane do it for Steve Morse's music, so I guess it must be ok sometimes! When we do some covers like Trademark and Cruise Control, I just do the original as well. Many of those solos are composed and the original players do them very similarly night after night. I think it is important just to do things a variety of ways - let some tunes be total free-fall solos while let others be more composed.
If only I had the chops and talent to do either...Okay. I can play one decent solo note-for-note. Just one.
Everything else is just pentatonic bluffing........and no-one ever seems to notice