Well, there's no quick and easy way to master the guitar. I guess the best method would be taking lessons from someone who can teach you the music that you want to play. Of course, you'd have to master the basics first including picking, bending, hammer-on's etc.
When I started playing, I took classical guitar lessons as a start and made zero progress, simply because the classes were boring and I became disinterested very quickly. I started to improve and developed a passion for practicing when I began learning simple songs that I enjoyed (Metallica, GnR etc). You definitely learn quicker if you are interested. Once I learned the basic blues/rock stuff, I began taking an interest in faster and more exciting stuff like Yngwie and neoclassical music. A friend of mine could play Yngwie's stuff note for note, so I learnt alot from him (sweep picking, harmonic minor runs etc).
Learning how to read tabs and covering songs is also a good way of improving your technique and getting ideas. Remember to always practice with the metronome and start at a steady pace.