"Good improvisation communicates harmonic progression melodically. Effective melodies manipulate harmonic content through the use of guide tones and preparatory gravity notes, masterfully woven in systematic tension, release, and transparent harmonic definition."
We get a lot of lip service on the internet about the FFcP method of attacking the fretboard. There are both cerebral and physical reasons this is such a tight, all encompassing way to digest the concept of home position mobility, and a lot of folks get it. It's been very popular.
We've published a lot about 3-note 7th chords as well. It's another one of those simple concepts that can have so many far reaching applications. Learning these blocks can help freshen up your comping, smooth chord transitioning, and even start you down the road to chord melody soloing. We can't stress enough how basic these are to better facility and fingerboard comprehension. Using the meatier lower strings not only improves your overall sound, it frees the E string for some voice leading and juicy harmonic extensions on down the road.
We can't encourage you enough to learn these blocks, not only in the dominant 7ths, but the major and minor versions, too. We've even created a coffee mug through our CafePress Logo store (shameless plug), if you really want to drink it in.
For now, take a look at a "real life" example of how these chords can work for you by reader Jake Cohan. His video is a marvelous example of how these chords can be applied in the classic Miles Davis standard, All Blues.