For me It really depends on lots of factors, like what kind of music do you play or how much time do you have to practice.
In a Blues/Swing/Jazz scenario I would just keep the basic grooves and fills and I would just play whatever I feel like in between (that actually fits the song).
Or If I have a gig in 7 days and I have to learn I like 15 songs or something I will just play a groove that fits the song focusing on the music rather than the actual details. And only pay extra attention to specific nuances that the song needs.
Now If I just want to learn the song to record a cover or play with a band that I have a lot of time to practice I will learn it note for note ( as long as I can actually play it)