You got it James. There are reasons that Yngwie never was widely popular outside of guitarrist circles, his music only appeals to people who can appreciate the technical difficulty of it. Show it to a piano player, or a violinist, and they'd say whats the big deal (guitarrists, including yngwie, are slowpokes compared to good violinists, pianists, saxophone players, flutists, pretty much everybody, hehe.) Show it to a non musician, and they'd probably just get bored.
James, reading your favorite guitarrist list, sounds like you've got some good taste man. Can I make a few suggestions of other guys you might like? Well a guitarrist that I absolutely am in awe of is joe pass. If you hear the stuff he did unnacompanied, its just great, he was a great guitar player, and non guitarrists can definitely dig his stuff. While his stuff is very difficult, its not in the flashy malmsteen way, but rather in the ability to play bass lines and chords at the same time, (you really have to know your chord voicings to be loose with that) and the ability to improvise arrangements (that's basically what he was doing.) Just trust me and take a listen.
I'll also suggest Wes Montgomery, beautiful player, great improvisations, smooth, cool cat, nothing more to say.
Django Reinhardt, try not to get put off by the cornball sound. If you get his small band stuff, and can get past the bad recording quality and initial corniness of the sound, you'll notice a guitar player who was supremely gifted at improvising strong melodic phrases. Jeff Beck still thinks Django was without question the best ever. Well, those are the three I'm suggesting you check out, of course there are tons, but these guys come to mind for now,
Joe Pass
Wes Montgomery
Django Reinhardt