Nice list sambob, allow me to add:
Shaun Baxter (Jazz metal, best fusion I've ever heard)
TJ Helmerich (Plays with Brett Gorsed, mega tapper)
Jennifer Batten (a chick who shreds)
Steve Vai (you left him off! Ok, I don't like him either but that's not the point, cause most shred fans do).
Yngwie Malmsteem (bit samey for me).
Joe Satriani (Possibly my favourite player)
Marti Friedman (True obsessions is a great album, lots of eastern scales).
Speed is important:
our appreciation of music is limited by the efficiency of our memories. As we listen to music the memories we form of the previous music fade away or go into storage so the sense of a melodic line may be lost if the line is too long. On the other hand long melodic lines are what interests a lot of us musos. For this reason it is often important for a musician to play at speed to fit in the notes quickly enough to remain active in our minds until the phrase is completed and the melody resolved.
On the other hand our memories are also constrained by how fast we can take notes in, to me a blur of speed is just a blur of speeds, more of a rhythmic device than a melodic fragment.
Interesting phrases often have a wide variety of different note lengths in them. If a musician wishes to include a great variety of different note lengths it may be important for them to play the fastest note runs very fast to ensure that the whole melody does not exceed our attention span.
There is a tradeoff between the speed we play at and how individual and pleasing we can make our notes. You can't bend/violin/wah/shake/pinch individual notes above
a certain speed. Fast playing is consequently less articulate and vocal in quality. Also the faster one plays the more of the time is occupied by the messy sounds of pick attacks and fret noise, the tone looses purity.
Some of the most soulful players I know of vary their speed enormously and consequently their playing styles are very technically demanding.
Also, I think the demands of trying to process the aural imput of blinding fast runs can be quite invigorating. This said most shred patterns are very simple which can make them melodically boring. Players who vary the kinds of intervals they use in their playing make their music more challenging to comprehend without having to up their tempo as much and are much better in my opinion.
There's a big difference between such people and your run of the mill shredder practicing metronomic runs just to show off. Personally great shreds do impress me even if they aren't very musical simply 'cause I know how much effort it takes to develop that level of technique but I'd far rather listen to (for example) Alex Lifeson than Malmsteem or some clone of his.
If I couldn't laugh at myself how could I laugh at someone less ridiculous?