I came up with some exercises that I feel have been pretty beneficial and allowed me to make some nice improvements in finger independence, relaxation, and control in a relatively short amount of time, and I thought I should share them. I might not have been the first person to do this, but I haven't heard it mentioned anywhere else. You might think it's a waste of time since it doesn't involve any actual playing. That's fine.

The concept is really simple. Everything is done on one string. Take whichever fingers you aren't using and put them on an adjacent string, but don't press down. Gently rest them on the string. Now, do whatever exercise or technique you want with the other fingers without lifting any of the fingers you're not using off of the string or pressing down on the string.

For instance, say you want to practice hammering-on from the 3rd to the 4th finger on the 5th string. Just place your 1st and 2nd gently on the 6th or 4th string, and practice your hammer-ons on the 5th string without lifting your 1st or 2nd finger up off of the 6th string. Try it with pull-offs too. I'll do this for every pair of fingers, and group of three fingers. Also, it's good for hammering-on from nothing for each individual finger.

Another thing I'll do is rest two fingers gently on the 3rd string without pressing down and move the other two fingers between the 1st and 5th strings in opposition to one another. I'll do this with various combinations. I think this is pretty good for learning to control the fingers during chord changes.

Just thought I'd share.
I do exactly that sort of work (variations of the same idea) on a regular basis.
I find it to be exrememly beneficial to training in automatic relaxation & finger control/independence.
Keep doing it man! Even 10-15 min per day pays off in a big way, and helps your over all playing.