I agree with Ren.

You probably dont realise u are really improving without knowing it.
Try not to get too serious about it.

But if I may present my way of Picking, I don't just use one method. Sometimes I use the rotating method, and sometimes I lift my wrist off the body similar to Michael Angelo. But basically, I use my wrist and a bit of my thumb and 1st finger. I use it as a combination. I learnt how to control the two. By using the wrist or the fingers for picking, u get less movement. The less the movement the more speed you have. Watch Yngwie Malmsteen for example....

And something that I really believes helps is too just pick softly. Not to say picking hard is wrong, but I just noticed myself that it seems to be more clear that way. Try not to tense up your right hand....

ahhh I can't explain myself too well....

Hope I helped :o