So I've been playing guitar for almost 10 years now, been playing seriously for about 2 years (everyday or other day). I've been playing electric and acoustic stuff mainly by trying to learn some solos and songs and stuff like that. I've learned the CAGED scales and their pentatonics and am working on building up speed with each one of them (currently I'm at 250 bpm 1/4 note). I want to know where should I go from here? Should I just keep trying to go faster, trying doing the scales by skipping strings, memorize where the root notes are, keep playing my favorite solos and riffs? Is there any suggestions on any further steps I should be taking?

Thanks a lot!
now is the only thing that's real
Dude take those scales and create your own solo's. They dont have to be fast or flashy. Just play your instrument. Keep trying different things and soon enough you will be able to solo at the drop of a hat.
Improvise over solos you have heard but do not know yet. a lot of my licks come from that kind of jam session.
Try Playing along with some backtrackings or even your favorite songs to get some comfort in your improv. Also try working on some techniques like sweep picking and finger style.