I've been sticking to pretty safe AC/DC tracks for a while now - Back In Black, You Shook Me, Highway etc. I figured I'm not going to improve if I stick to playing those over and over.

In an effort to improve speed wise I want to learn some Poison tracks as I've got all the albums to play along to on my Tascam MP and most of their lead work is bloody quick.

Are there any standard excercises or tips for successfull hammer ons and pull offs??
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Practice at half tempo with a metronome. Once you can play it perfectly at that tempo increase the speed by 10 bpm or so and repeat until you reach the actual speed of the song. Doing it any other way will just give you bad technique.