Th only difficult thing with the studio version is the 'Our only goal will be the western shore' bit, where you have to play ascending major scales at a brutal tempo. I can only get the speed by playing it with hammer-ons, so all credit if you can play it at tempo picking every note! There is a very effective cheat that you can use that sounds great, playing major pentatonics rather than the full scales. I first saw Michael Anthony (of Van Halen) doing that on a video from some jam at a party, where he was playing the bass part and singing lead. That's a very difficult thing to do, hence simplifying the bass part slightly. I tend to play it like that with drummers who perhaps haven't quite nailed the part, or are playing it at too fast a tempo (it's surprising how many people want to play this when they ask you to sit in at pub gigs or at jams).
If you want to challenge yourself, have a listen to some of the live versions where there is an extended guitar solo, that have a lot of bass playing going on! The secret there is to play lots of runs using the F# blues scale, but targeting the flat fifth as much as you can get away with!
Funnily enough, Kashmir is a pretty easy song to play, once you get the hang of the groove.