I am a self taught guitarist and I play mostly blues rock and rock n roll, but I have decided that I want to be competent in all areas of the guitar, so what exercises can I do to spped up my picking, I don't want to shred, just to be able to pick faster.
try playing metal, and practice playing riffs that you know (or make up some power chord progressions)fast(er)
Quote by Demonikk
'Practice amp' = amp you practice with? In my case, Peavey 6505+ and 4x12
I don't do things small

Except children.
picking fast comes from the wrist. if your whole arms moving then your making it hard for yourself. dont tighten the muscles in your arm up, relax and it should be a lot easier
metronome, practice, adjust the timing a little faster, practice.

Also, you may want to increase the dexterity of your picking - look into alternate picking, economy and so on. There are counltess lessons/excercises out there for those. Just use the metronome too, as this will make sure you pick cleanly and smooth, not just quick.