The good: I have been playing for over 30 years and can learn anything by ear in a very short period of time. Several years ago, I was auditioning for an original blues band. The leader gave me cds containing about 30 songs. He asked me to learn 3 or 4 songs and show up for the audition 2 days later. When I arrived at the audition, he asked me what songs I had learned. I said all of them. He didn't believe me and started randomly picking out songs to test me. He was shocked that I could play all of them. I got the gig. The keyboard player in that same band has degrees from 3 different music colleges including Berklee. He told me that I was one of the best bassists he had ever played with.
Now the BAD: I cannot read music. I do not understand theory at all and am terrible at improvising. I usually need time to work things out. I have tried to learn to read music and just don't get it. I graduated from UMASS, Suma Cum Laude and am a member of the international honor society. I am also in the process of pursuing an Executive MBA and a Master's in Finance at Boston University so my inability to read music has nothing to do with a lack of intelligence. Maybe it's the fact that I have always been able to get the gig because of my ability to play by ear and leanr quickly so I never really applied myself when it comes to learning to read. The keyboard player from the blues band and I do a lot of recording together and we started a music production company. We are in the process of starting a record label. He once said to me "If you could read music, you would be deadly and could play with anybody". He always says that he cannot understand how I can play as well as I do and learn as quickly as I do without understanding theory. He has tried to teach me and I just don't get it. I wish I could.