i find it hard to stay focused on the theory side.
a good place to start is with 'Play Guitar Like...' books and 'Best xxx band Riffs'.
In these you get a tab, learn to play a song, and the author picks apart the songs and breaks them down into scales, keys and explains the theory behind them... so you know how and why the music works.
Total Guitar magazine \ Licklibrary is good for this also.
My personal view is this: not every one has the years (or learning capacity) to put into learning everything and getting a great understanding of theory, so as long as you know enough to make you happy in your playing, thats all you need :)