hey caponi14, there's a lot of great advice in this thread. To simply everything, Slash is really playing a bunch of blues licks strung together, and he knows a bunch! Also a key to his playing is his groove, he's not just playing licks but he's playing them in a groove that really fits. As an exercise, listen to the solo again and ignore the melody, just imagine all his licks as drum hits. This will give you an idea of what his right hand is doing rhythmically. It's not the end-all answer but it's a really good way to break down the bits.

Listen to how Slash changes what he plays as the chords change, you can tell it's deliberate. The concept of "chord tones" (taught here by Anders and others) really comes in handy has an overall concept and it can really change your playing. It sounds AMAZING when you hit notes that are in the chord underneath it, maybe you use this already, I'm not sure.

And don't discount your repeated note licks, these are great and I use them all the time. Slash does too here at 3:05, 3:16.

The "dorian mode" is something Slash takes advantage of too, you can create some fast runs with this one because the pattern is easy to play. Head on over to the Ultimate Scale Finder and check it out, it's very close to the pentatonic scale, just two more notes. Try F# Dorian, pattern 2. You can do some really nice "cheatin" with this one!

It's easy to down yourself, take stock of what you've accomplished and think of how many players in the world are also "not Slash"! :)

If all else fails, get some software and slow down this solo, I'll bet you're playing some of these licks already.