Guys, geez. It all depends on what you are trying to do with the song in question. Composing a tune with a free flowing melody, as fxbip said, works well in some contexts. In others, bringing in some classically uniform techniques such as stating a theme, variations on the theme, and recapitulation will work great. A lot of electronic music doesn't have to stray away from a single key or have any kind of development. Personal preferences will dictate how they are received, as well as the current mood of the listener.
There are no rules, but I think one thing that has been stated in this thread that I completely agree with is that learning theory is not going to hinder your creative output. My opinion is, if you are going to dedicate a serious amount of time to making music, why not learn as much as you can about it?