Yup. I like playing fast. It's fun. It's exciting. But, is it musical?
Yes! I say it is. It also depends on how it's used though.
However, I do agree that it feels as if musicality is lost when all a guitar player does is haul ass up and down scales, cramming in as many notes as possible, AAAAALLLLLLLL THEEEE TIME.
So, how can you focus on the musicality of a scale instead of just playing it as fast as you can?
That's right! P-L-A-Y S-L-O-W
Playing slow allows you to HEAR the notes you are using. Whether you are playing to a backing track, or by yourself (no accompaniment), it's a FANTASTIC idea to practice playing your solos, leads, scales, SLOW!
In fact, I always advise new students to practice improv slowly. When you are new to improv, it can be very helpful to play nice and slow so you allow your ears to grow accustomed to what you are playing and hearing.
Guthrie Govan talks about this in a lesson he did with Guitar World. Definitely worth the watch!
John Taylor - guitar and bass instructor for Mile High Shred.