Hi, I'm returning to the guitar after a year of not playing, and I subsequently signed up for classical guitar lessons at a university. Would it be of any help in translating what I've learned in that classical guitar class when I apply it to the electric guitar? Actually, I started learning guitar about 8-9 years ago on the classical guitar with lessons, then I went on to play electric guitar without any lessons, which, after having hit the wall, left me disinterested. So basically, I'm back to where it all begins, the classical guitar.

Theory and technique-wise, is it a good option for me to advance in my guitar studies? I would appreciate any input greatly.

Dudley Bradley
Yes, Yes, Yes.

Classical guitar can teach you a lot of things you generally will not come across in electric guitar playing. I could go into more detail, but I need to shoot.
My "Rig":

Fender American Telecaster
Boss OD-2
EHX Small Clone
Ever heard of this guy?

It's Randy Rhodes, lead guitarist for Ozzy's band back in the 80's. He was classically instructed from a very young age and he excelled at rock guitaring. Yes it will help in other words.
Shit i didnt know uni's offered guitar lessons.. Are you doing it as part of an arts degree or something?