Being the keen guitarist, rocker and self-proclaimed rawk gawd i am...cough...I'd say the solo seems alright.
Of course the thing with guitar solos is they have to fit into the context of the song somewhere, and it's hard to really tell how well it fits in with the entire song from that section. I mean it sounds alright and seems to fit pretty well still.
As far as improvements go...hmmm... the rhythm guitar seems a bit loud to be honest, kinda 'steals you thunder' if you know what I mean. And i'm wondering where the two guitar melody bit you have at the end goes...it sounds pretty cool. If it were me i'd break into the main part of a crazy fast paced long arsed second part of the solo after that in the style of Iron Maiden or Metallica, but again, that's all to do with the context of the song...and your ability and style of course.
I think the first few rest notes could probably do with maybe a bit more accentuation. Maybe a bit of a bend, vibrato or hold the note maybe a bit longer. Again, it seems your guitar is just a bit too quiet.
But anyway, like your work. Sounds pretty good. Although i'd like to hear a bit more of the song before I can make any kind of real serious judgement.
Good stuff anyway! Rock on! \m/
Disclaimer: Any sarcasm in my posts will not be mentioned as that would ruin the purpose. It is assumed that the reader is intelligent enough to tell the difference between what is sarcasm and what is not.