Oh, absolutely. Voicing, fingerings, and positions are important. I generally replicate what's in the tab if I trust it, but sometimes I have to make a change because my ears tell me a different story or my fingers are uncomfortable with the way a riff is played, or both.
And there are certainly guitar tones on iconic records, but I don't find all of them worth emulating. The tone on Rust In Peace? Yes, please, and I will adjust gain structure and EQ on my amp until it's there. The tone on And Justice For All? Love it on the recording, would never want to have that tone myself. I'm a mid-forward guy, so the whole '80s thrash scoop your mids craze isn't for me, much as I love a lot of that music.