On his album "Who Else", Jeff Beck recorded a slow air composed by Donal Lunny called "Declan". This air first appeared on "Donal Lunny Live", played on the uillean pipes. Beck did a great job recreating it on the electric guitar.

I myself recorded an electric guitar solo on my band's version of "My Lagan Love". Although the folk police will surely come after you, by all means follow your bliss. It can be done to great effect when done with taste.

Cheers,
Michael