Quite an interesting read, this ere thread. As somebody that was classically trained in Trombone at school I have a keen interest on this. I've been toying with the idea of which route to go down, debating it in my head, as somebody that has just picked up a bass guitar. Do I go down the play by ear root, or sight reading root? ( rhetorical question ).
I mean being able to sight read, and if you are a good to very good sight reader, you should be able to put the notation of any style of music in front of you and play.
Do I think it will hinder creativity? Yes/No. I think creativity is a very personal thing, and whilst theory might help one person, it might hinder another. I think it all comes down to if the person is an inspired type. And musical theory is huge, its not just being able to read musical notation. Some people might find a theory like playing root notes and 5th notes around the drummers snare drum, symbol or hi-hat , very helpful, other might find it a burden!
David