Wow I'm making a lot of threads, heh.

When you release your finger off a note, does the open string ring after it? I have a crappy guitar and amp which give off a lot of feedback, so I'm wondering if having better more reliable equipment will solve this...
Hm, makes sense.

But does the open string still ring when you release it quickly (assuming you have good equipment)?
Yes,it does. That's called a pull off, sort of, you're supposed to pull your finger to the side a little so that the string really rings. If you don't want the strings to ring when you release them, release them a little more slowly.
Shielding can help. Shielding involves covering the insides of your guitar's electronics cavity with something conductive, like foil. This prevents interferece and feedback.

Although a lot of cheap guitars have this now, it's worth checking to be sure. It's either foil or this black graphite stuff.
guitarists hands eventually get to the point where they naturally mute out sounds with their plams. strumming and covering certain strings, stopping feedback, etc.
it's all a part of playing electric guitar.
thats technique, not gear.

and im not convinced july 06 qualifies as 'senior'
Get off this damn forum and play your damn guitar.
Firstly, I know how to pull off. I'm not talking about that. I don't pull off, I just let go, and the open string rings. That's my problem. I don't want it to ring.

And secondly... "senior"... what in the hell are you talking about?
The only way you're ever going to stop that ring with equipment is something called a noise gate. However, its better just to learn the technique. As far as i'm concerned, the only people who need a noise gate are dudes who play so loud that they get feedback even when their hands are muting the strings.