Depends on the song and it depends on the band.
I try and learn the song as close to the original as possible, and then add what I want.
I usually replace the licks and fills with my own unless they are signature to the tune.
I find as a bassist playing a tune note perfect will only work if I have a drummer who is playing his part note perfect. Sometimes I have to "modify" my parts to work with theirs.
To answer your question: you definitely want to make it "feel good"
and sound good. Usually the two go hand in hand.
