How can I use a metronome to get the best results? I want to increase speed, dexterity, cooridnation, etc. When I use one, should after each finger exercise, scale, etc. increase the speed by 2-5, or should I stick with around 60 bpm (to start off) and do that for a few days? Any other tips on exericising EFFECTIVELY would be great. THANKS!
Well, there's a lot of ways you can use a metronome.

First realize that a metronome just divides time up in a steady way. It really doesn't
have a direct link tp playing speed.

So, yeah, one way to practice "getting up to speed" is set the metronome at a low
BPM, and then practice the same thing at higher BPMs.

What I like to do when practicing exercises is just leaving the metronome at a
single setting that's not terribly fast like 80 BPM. Then I practice the exercises
using 8th, triplets, 16th, groups of 5, etc... Not only can I increase the speed
that way, but I also get practice with different rhythyms over the beat. And, I
don't have to keep adjusting the metronome!
If you just want to increase in speed (but make sure you hit each note perfectly and accurately), then play an exercise like 1 2 3 4 or 1 2 3 or something, at 8th notes, probably around 60-80 bpm. Then, after you get comfortable with your speed, increase it by 15, and get comfy on that setting. By comfortable I mean you can play it no problem without ever messing up. Then decrease it by 5, and after a little while, increase it by 15 again. Youll make huge leaps in speed in a few months. After you get pretty high up, return to 60-80 npm and try 16th notes, and do the same steps
i remember watching petrucci doing wonders with that little unit of joy
he set if on slow beat (about 40) then he played from 1 to 8 or so notes per beat
(40x8=320 WTF????)
overall thats a great workout for coordination