I really don't think fast guitar playing will, but it will certainly blow your friends minds when you can play the fastest runs ever imagined without even thinking about it. It will also give you a huge edge when trying out for any established band or getting recording gigs. Being able to play a lightning fast solo will earn you a lot of respect in the musical world. So how do you learn to play your guitar like that? Besides long hours of practice, there are several things you can do now to get an immediate increase of playing speed.
Fist, you want to look at the way you are gripping your guitars neck. Many players tend to wrap their thumb all the way around the neck because this seems to be the natural fit for your hand. What this actually does is cause you to put to much pressure on your fingers, which in turn makes it harder to change your neck position and chord fingerings.
Instead, put your thumb in the middle of the back of the neck so that your fingertips come down straight on the fretboard. You will immediately notice that you can move your finges much more quickly. It is also much easier that way to change where you are at on the fretboard so that you are no longer limited to one position to play a solo in.
The other thing you should look at is how you are holding your pick. If you are gripping the guitar pick to tightly, you can not feel the individual strings nearly as well. Loosen up a bit. You will soon notice that you can feel the difference in each of the strings and this alone will increase your picking accuracy, which is one of the major keys to playing with incredible speed.