I think you nailed this subject with the words "I still have ultimate veto if something isn't working,"
It's great to work with other musicians, to hear alternate ideas and new arrangements but it usually falls to one person to pick out the best of those ideas and put it into practice.
I've played in bands that were totally democratic and everything from rehearsals to picking material was a lengthy and laborious proceedure, often resulting in being left with everyones' second choice!
As for arranging, any member of the band I currently play in is capable of a decent arrangement and it's often best left to one person to deal with one particular song rather than have everyone trying to have some input on everything.
I've also played in bands that were run like a dictatorship, where each band member is given a job to do with no more asked of them.
Less fun, and creatively stifling, but in some circumstances an easy ride.
As I get older, along with my band-mates, I'm finding it less of a challenge to get things done. We respect each others' ability and don't let egos get in the way of making good music, so there's less need to have anyone calling the shots but when it does reach an impasse the lead singer can make that call and we accept and appreciate the chance to move on.

C-flat.