SRV's "LIttle Wing" got me back into classic rock a few years back. Listening to rock again with an ear exposed to many different types of music has given me a new appreciation for guitarists such as SRV, Duane Allman, and Jimi Hendrix, and the realization that many "great" guitarists are all flash and no feeling. While any number of guitar players can play faster than most of the greats from the 60's and 70's, the playing lacks feeling and sounds out of place with the rest of the song. I would put Eddie Van Halen and Randy Rhodes in that group. Great technique and some great riffs, but the solos are too often just notes played real fast. Unfortunately, there isn't a local radio station that will touch anything by the likes of Joe Satriani or Yngwe Malmstien (sp?), so I can't comment on them until I can get my hands on some of their records.
Yngwe Malmstein falls into that fast notes really fast category in my opinion. And you are spot on in your references to feeling. I have always been attracted to rock with blues roots as it is much more full of emotion.
I still like Kirk Hammet's work on the first 3 or 4 albums with Metallica. It is a different type of music and is not really comparable to SRV, but good stuff nonetheless.