Dude, remember one important thing: guitar playing involves two hands!! Speed comes from timing between your hands. There are tons of exercises that you can do to increase speed in both hands. The right hand picking is very important as far as playing, but what good is it if your left hand can't keep up with it? A good description of proper right hand technique (for speed) is from Paul Gilbert who said that picking fast was like scratching a dog. I own a couple of his videos and I have to agree with him. If you've never seen him play, check him out!! He's very economic in his playing.

Also, who says you have to pick every note? Satriani and Vai are like lightning and they use tons of pull offs and hammerons that are not picked. You might want to check them out as well.

But always remember, Rome wasn't built in a day. I've been at it for 12 years now. I discovered Satriani and Vai music about 9 years ago and practiced it for hours everyday until I could pop in a cd and play all the way through it. I'm not saying to go into hiding with your guitar (like I did) but give it time and you will become faster.