All playing is "practicing" and improving upon what you already have - whether in the privacy of your home, or even on stage.

In fact those nights on stage when a room is mostly empty most musicians I know think of it as "Paid practices (or rehearsals).

Practicing may be playing an entire song all the way through; or working on a particular lick for an hour; or practising moving from one chord to another one quickly (that's been giving you trouble); or just working up scales and arpeggios. It's all the same, and in the end, designed to make you a better player.

I generally spend a minimum of 2-3 hours a day during the week (broken up into half hour to 45 minute segments around lunch time, then after work, and then again late in the evening. On the weekends, it's broken up again, but I'm more likely to get 4-5 hours in a day, spread out.

Depending on what style you play, may or may not require more practice time. I find maintaining good fingerpicking technique absolutely requires daily practice. Kind of like being a triathalon athlete and keeping all the muscles toned, loose and flexible and constant remapping and reinforcement of all muscle memory and grids. Miss a day and you need 2-3 to make up where you were - at least with me anyway. If you truly love it, practicing is never work - but just another new adventure. *G*