Watch the Mel Rhythm online guitar lesson by Jeff Scheetz from Blues-Rock: Secret Sauce
Inversions are a great way to make a simple boring chord progression way cooler. We have all had to play way too many three chord songs where we got stuck playing the rhythm while somebody else got to do the nifty noodling solo. Mix it up with inversions but don't get too crazy or busy because your priority is supporting the soloist or vocalist.
By using inversions you can make the progression more interesting while at the same time keeping the harmonic integrity intact.