Having been persevering in the development of an alternate picking ability that would enable me to learn some of John Mclaughlin's most insane acoustic solos, I have become interested in whether using a particular pick might help me to become faster more quickly. I was thinking of investing of investing in some Dunlop Jazz IIIs, which you can see here: http://www.guitarcenter.com/Dunlop-Ultex-Jazz-III-Guitar-Picks-6-Pack-111004-i1276008.gc

Will this be off any value, or is it a rip-off?
To be honest, lots of time and practise is the only real way anything is going to get better. I'm sure you've heard that many times before, I know I have. I highly doubt using a different pick such as that one is going to help much.
Good picks do make you play better, however is is only down to COMFORT. ie if you are really not liking a pick then that discomfort is likely to rub off on your playing.

I use Jazz IIIs because i find their size and shape most suited for what i play and the way i play. But like said above you need skillz to do anything regardless of pick
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No pick will help you play faster. A pick you are uncomfortable with might make you play slower, but that isn't the same thing.
Don't listen to these guys. You should be spending all your time looking for the pick of destiny.
For the most part a pick is a pick. If you're looking to attain insane pickery, all
I'd suggest is a nice stiff pick. With a thin pick, the mushiness just takes control
from you and gives it to the pick.

Jazz III's are ok.

I use nothing but these Ultrapick's which are really nice (the only problem is getting
addicted to them and there's only 1 place you can get them):