I agree. Melody is more important than just speed. Thats why Yngwine, though considered a great guitarist is placed low when compared with Vai or Satch. They have far more Melody than Yngwine (Who is considered that fastest shredder). Thats why i personally like Marty Friedman a lot. He concentrates more on melody and his solos always sound amazingly great (Just check out the solos no.3 and 4 in Hangar 18, you'll know). The recent metal bands have lost Melody and are too keen on speed. And this is bad. Melody is much more important.
Overwhelmed as one would be, placed in my position
Such a heavy burden now to be the one
Born to bear and read you all the details of our ending
To write it down for all the world to see
But I forgot my pen, Shit the bed again...