Over the past 3 weeks I have been heavily commited to some important exams that are of great importance to me, and so have neglected my beloved acoustic guitar considerably. In the time before this I adopted an intense and discplined practice schedule so I could achieve the goal I had set, namely: to be able to alternate pick like Al Di Meola and John Mclaughlin. However the acoustic guitar is a very unforgiving instrument for someone with poor technique, and having practiced extremely little over these past few weeks I am literally back at square one, and am utterly demoralized.I was willing to devote myself to this technique for hours a day, yet now am unwilling to confront my inadequacy.

I'm sure many of you are aware of this kind of problem, so what do you do when trying to 'get back into it', and find inspiration/motivation? What are your thoughts?
You need inspiration like you said. IMO the only way to get good on the guitar is to enjoy playing. I don't "practice", I just play and enjoy myself. Find a song that moves you and learn it.

If that doesn't work , I would re-listen to Al Di Meola and John Mclaughlin and get re-inspired. I don't know if that would work, but in theory it seems alright.
get the fret-board sex toy!

I usually just listen to my favorite guitar parts and it motivates me. Going back to songs you know well is nice too, and just playing them for fun. Also, it helps get your fingers re-acclimated to the guitar. The same thing happened to me after two weeks of exams that ended less than a week ago. It can be pretty rough the first few days back on the guitar
I just play guitar when I need a break from studying. The only problem was my dorm building's walls are paper thin so everyone could loudly hear me playing and they would get pissed at me. Luckily, next year I am living in a dorm building with thick concrete walls and floors!