#1
i've been playing for about a year and a half and i think its time for a little shredation!!! does anyone have any suggestions on how to increase my knowledge of theory (none whatsoever) and some excersises to increase speed? thanks
#2
Check out justinguitar for theory, along with musictheory.net .

For a decently easy shred song, you should be able to do scarified by Paul Gilbert after ALOT of practice.
#3
look at demon driver or appregios from hell by yngwie. obviously don't try to play them full speed but they have a wide range of different sweeping patterns and harmonic minor scales that you can use.
#4
Get the Metal Method platinum DVD package and you’ll have years worth of shred instruction to keep you busy.
#5
As for theory, I would suggest some intro Music lessons. There is no better way to learn theory. As for speed, I suggest trying something slow and buying a metronome. Then, slowly speed up the metronome.

ron666