I still like to dial up that huge arena rock guitar god lead tone sometimes.
My recipe-
Humbuckers.
BIG frets on a flat board. It'll change the way you play, enabling a much lighter touch, and technique is a big part of nailing that tone. It also makes the big giant smooth vibrato thing a breeze.
Then, we get to pedals-
Comp. ==> TS style OD of some kind ==> Second TS style OD of some kind ==> touch of chorus is you choose. Though I am more apt to apply chorus on clean style tones, it goes a long way toward getting into Ozzy territory from the early days, and other stuff like that ==> Delay (digital delay, you don't want the repeats distorting as there volume decays)
Then-
Overdriven Marshall, either a JMP or an 800. My Artist 3203 will also do a bang up job on this stuff. And you pretty much have to have a closed back cab.
It's a ton of fun to do that stuff.
Sidenote- For some excellent examples of totally incredible sounds that would be called "terrible" tones by today's standards, check out Ted Nugent's lead work on the Damn Yankees stuff, or anything recorded by Tesla. Frankie Hannon will make your hair stand up.
Then there is the all important Osbourne album "Bark at the Moon", which may very well be the most overprocessed, digital guitar sound of all time, but with Jake E. Lee at the wheel, it's just plain awesome.