Nice observations and guidance, GUEST,Stim.
I too have been studying Steve's playing for a while and as you say, with persistence, learning to keep the right hand relaxed (yet disciplined and in control), learning to keep the rhythm going while inserting the leads, the riffs and all the other ornamentation, etc., learning which chords he used most, knowing where all the pertinent chords when playing in a given key are and how to get to them deftly, and then oh yeah, the singing too, in a way that is good, natural, engaging, entertaining, etc. - then yes, you can definitely do it! (if not quite as well as Steve did) I agree that conceptually it is actually simple, but execution is anything but and requires a lot of dedicated and determined practice (and yes, indifference to pain). I'm getting there but still a long way to go. Best is to study the existing youtubes where you can see pretty well what his hands are doing.