I'd say the PLUS for learning basic theory is playing with others in a new setting or 'sitting in'.
Example: sitting in with a friend last weekend, I asked 'what key do you do that in, B?' He said 'E'. In fact, he was starting on an E major chord, but playing in B. Until he started playing I was figuring how I was going to transpose this song up 5 frets (or down 7)on an acoustic 12 string and make it sound ok!
With the guy I was playing with recently, it was as simple as 'I do that in Eminor' or 'Bflat', and we both knew what to play.
Example: sitting in with a friend last weekend, I asked 'what key do you do that in, B?' He said 'E'. In fact, he was starting on an E major chord, but playing in B. Until he started playing I was figuring how I was going to transpose this song up 5 frets (or down 7)on an acoustic 12 string and make it sound ok!
With the guy I was playing with recently, it was as simple as 'I do that in Eminor' or 'Bflat', and we both knew what to play.
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