I have what is call commercially Shred Neck, it is mainly for left hand technique but it has a small space supposedly for picking. I had to travel without any chance to bring my guitar so I decided to bring it with me. At that time I was unable to do to any sort of DWPS so I started practicing on it. It was simple just 2 strokes in two adjacent strings. No metronome just the mechanics, eventually I added the metronome and by the end of my 25 days travel I was playing around 150 bps (16th notes) on the thing, again just pick strokes on adjacent strings (no left hand involve). I was very happy and I thought I did it, then I came back picked my guitar and the first day I was very disappointed. The first thing was that the string tension was different due to string length on the Shred Neck and where the space to pick is. And then the other issue was syncing the 2 hands. But after about 8 days practice on the guitar things started to work. This happened a year ago.
Conclusion, as long as you make an effort to simulate the right mechanics it is going to help you tremendously but it is not going to translate immediately to the guitar since there are many other factors involved. But since last year I carry the Shred Neck with me and use it when I am in a cab, airplane etc for both right and hand left practice.
BTW I have the Shred Neck but I think is overpriced if you are the DIY type guy you can do it a lot cheaper.
This is the link of my original post last year (Switching motion mechanics)