This may be primarily opinion based, but I believe there's good scope to get some valuable information if the question's worded well. please share comments if you think the wording could be improved :D
Background
I'm playing with friend right now who has a lot of enthusiasm, but isn't great. It takes a lot of effort to teach riffs, chords and melodies to. Being blunt it feels like the time would be better spent finding other musicians, or practicing on my own.
The upside is that it is great fun, and being able to teach someone what you know feels fantastic for strengthening knowledge. The guy's a good friend and is really keen on playing live gigs(though we've only played a few so far)
Part of it of course is what your goal is, and mine is to grow and learn as best I can as a musician (and it tops the fun I might have not learning).
A common belief I've had is that you should always hang around musicians that are better than you, or as good so that you can learn from each other and grow.
I do feel like a bad person for asking this question, but hopefully I'm not the only one who's been in such a situation.
Summary
Given these circumstances, Is it better to to learn with less developed musicians you have fun with, or to take the time to seek out greater challenges?