While many modern artists would like to instantly turn their fleeting inspiration into a masterpiece, there is a long tradition of patience and diligent work that happens before the artist can possibly command all the elements required of a masterful painting..
Drawing is the necessary foundation for realistic painting, as so many of the major successes and failures of a painting can be corrected in the drawing phase. If a drawing is not looking correct, generally no amount of brilliant, dazzling effects will disguise the problem. However a beautifully rendered monochrome painting may not warrant an excess of distracting elements, as the foundational rendering delivers a majority of the essential information.
It is worth taking the time to study from the old masters and their processes, not to rehash what has already been done, but to ensure a lasting and appreciating legacy in the value of the long tradition of art.