Dwight Yoakam's Fast As You has an interesting take on playing a 12-bar blues, which is usually based on a I-IV-V chord progression. If you are interested, have a look at the verse riff. (The tab is in the New Bass Tabs.)
If you'd like more info about 12-bar blues progressions, see this:
http://en.wikipedia.org/wiki/12-bar_bluesCheers.
