Transcribing is the art of writing down musical information for the sake of study. As you know, learning solos, licks, and lines from your favorite players is some of the most valuable practice time that you can spend. There's a difference between playing someone's solo and learning from it. Learning to transcribe by ear also helps you to learn the solo. It's not necessary to learn it all note for note at the correct speed. It's fine to learn a few licks and write them down for future study. Either way you do it, you should write it down on tablature or music paper so you can study it.

If you're really interested in learning about music, you should check out how other instruments play and phrase. In the case of blues, there are many piano and saxophone players to check out—harmonica players, too. Other instruments won't fit into the box patterns as guitars do, but learning their licks will help you break out of the box. You'll often find that learning from other instruments can really turn your playing toward a new path.