Well i'm noticing some inconsitency with my bends only on the b and e strings. I've been bending with all four fingers and some people said that's the correct way, to me though it seems that it's harder to get a higher bend with all 4. The main problem however is when i do a bend release on the e, the g and b strings are accidentally played resulting in unwanted noise. Also sometimes it leaves the note muted etc.

here is a picture of how i'm bending, and the problem is clearly evident.
(click for larger image)

ok so can you explain in a little more detail please, which two fingers shall i use to bend on the e and b? also how do you mean mute the strings?
dude, there is no reason to use all four fingers when bending, unless your down in the 22 or 24 fret area. usually ill use 3 fingers, but it honestly depends on the fingering i use for the lick that has the bend in it. sometimes i use 2, more often it'll be 3, and very rarely ill use 1 finger. i never use 4 fingers, just cause its more comfortable using 3. it doesnt matter which fingers you use on which strings, you should be using the same on all strings really.

to mute the adjacent strings, use your right hand, its probably the best way to do it. sometimes ill put my index finger up, covering the adjacent strings, thus muting them.
Jackson RR Professional, early 90's japanese model, with EMG's

Digitech GNX3000

Crate GX 212