FYI, regarding those attention-seeking guitarists, I've never even seen one, and I was really unaware that this kind of thing actually happened. The worst I've seen is when part of the party had migrated to someone's bedroom (probably to take shots or smoke a bowl or something), and the dude whose room it was busted out his guitar, but he could barely play. After a song or two, he handed it off to someone who was a much better player, and we actually had a really rocking vibe going on for awhile.
Also, if someone was playing something like that song in Animal House, I'd probably want to break the guitar as well. I was talking about people playing songs that are actually good.