I'm not really good at song writing, my biggest flaw is not able to join riffs together.
One thing I know is when I got a good riff. I can feel that it's good. Most of the time it gets my heart beating faster. Than sometimes, when i'm lucky, a melody comes to me when listening to the riff.
If I could write good lyrics then I could put it on the melody. I know I would have a great song, at least in my opinion. I'm too heavy for commercial stuff so I wouldn't get very far with it but hey, at least I'm having fun.
I think if you have a good rhytmn and you can hear a melody, then you probably have a potential song. It's all about mixing music with words for me.