Eddie is a great Rythm player, so Was Hendrix and Rhandy Rhoads....the one thing all these guys had in comin with there rythm playing is the use of triad shapes vrs. bar chords and their ability to add notes on to the chord shapes, particularly 11th's and 9th's, creating melodic interest w/the progessions instead of concentrating on root movement (leave that to the bass player).
The one thing piano players have over guitar players (most) is that they use voice leading in their progressions, most guitar players don't take voice leading into question and instead just move block chord voicings around the neck of the guitar in patterns, can become very uninteresting to the ear after awhile.
BTW, Hey Joe is 1, 5, 5/5, 5/5/5, 5/5/5/5....or it is easier to think of as a cycle of 5th's progression (C,G,D,A,E).