I was wondering if there is any really good way to practice open chords. Sorry if this is a really stupid question but i figured I would ask and see the replies.

Also, will being able to switch these chords quickly improve my playing ability when I am not playing chords?

a good way to practice chords, eh? good idea. the best way is to play the chords to super easy, every one knows songs. like she'll be comin' round the mountain, amazing grace, twinkle twinkle little star, etc. then learn to do it faster and faster. that will make you improve. the best song for this is probly you are my sunshine.

I'm not sure if it will improve you not playing chords, but i would think it should. and also, it's a good think to know how to do, and I would suggest learning to quickly change chords even if it doesn't help playing other things.

It will help your fingers become faster, more accurate and responsive to progression.

For the other part, you can practice by learning easy open chord songs you like or classics like House of The Rising Sun or to improve both theory and mechanics-wise, you can make up chord progressions out of the major scale and mess around with it strum,arpeggiate whatever. Hope i could help.
Let's go back to five billion bpm and see how good i am.