Man... I hate getting into discussions comparing two musicians. You always end up offending somebody because they take it personally that you aren't as impressed as you should be.
With that said... sorry but I just don't hear what you're hearing.
If it was anybody but Jimi Hendrix my comment would be that it's an intermediate guitar player doing some simple licks with a few standard quick runs that he's learned. He's constantly going out of beat with the backup band and the whole song goes along at one level and never gets anywhere.
Halfway through the song, the recording engineer had to add stereo reverb to the feedback guitar to make it sound more interesting, then added a flange effect over the next part of the song..mainly because the second part of the song doesn't sound any different than the first.

The 'plus' points in his favour are that he was one of the original people to come up with those licks and that, plus the fact that he was a black player and the fact that he's now dead has all added to the "ElvisLennon" effect of making him more than he actually was.

Van Halen learned everything that Hendrix did then went on to improve on it ten fold.
His playing isn't just faster, it's more innovative, cleaner, controled and more precise. His control of the whammy bar and the fact that he revolutionized tapping puts him way ahead of Hendrix in terms of playing talent in my opinion.

There's no way for instance, that hendrix could ever play any of this...

http://s93744050.onlinehome.us/eruptiontake18.mp3

But EVH could easily play anything that Hendrix ever did.