I've always felt it would behoove bassists to learn to play some "lead" guitar in order to become better soloists, simply for the fact that guitarists solo more than bassists. But I think it works the other way around as well.
Bassist have to think more in terms of "rhythmic melodicism." Just as I feel playing guitar has helped my bass playing, I think being a bassist provided a unique approach to guitar playing.
Here's an example . The guitar solo starts at 2:05.
http://www.youtube.com/watch?v=0Z2_aOKRJEM
I'm no shredder, but I try to use limitations to get the story across. And that comes from playing the bass.
And oh yeah, ignore the blatant promotion. This is among friends. : )
All feedback is appreciated. Thanks.