I’d really like to develop my ear. I feel if I can figure out riffs by listening you could jam with anybody. Trying singing the melody. Also slowing down MP3’s. Are there any techniques I’m missing?
A few years back I started using an ear training software on my Android phone, it is called Complete Ear Trainer. I even paid for the full version, set me back about a full 5USDs… 
I do it every morning for about 5-10 mins. Really no big deal, it has progressively difficult drills for identifying intervals, chords and scales and it doesn’t let you move on until your score is above a certain percentage. It has meade an IMMENSE difference in my hearing, not just in terms of identifying things, but I swear I hear the music I’ve benn listening to all my life differently as I’ve learned to be more aware of the finer details of a sound I hear. Not doing PR for them, they are not doing anything groundbreaking, I just wanted to point out that there are definitely good and cheap solutions out there.
But the cheapest method is using your guitar, it just requires a bit more effort than tapping on your phone’s screen. If you have the 7Factor, check out the part where Kiko introduces the intervals. You can basically learn all the intervals by goofing around using only specific intervals. It is also a good idea to associate the sound and feeling of an interval with something.
For example when I was doing the Perfect 4th drill on my phone, I realized that here in Hungary, when the subway door’s are about to be closed, there is a warning message to the passengers starting with a short two note “signal”, which happens to be a P4. So whenever I get that “subway feeling”, I know that it is a P4. 
Another example is when I was following Kiko’s lesson about the 3rds in the 7Factor and started messing around with the interval, I accidentally transcribed the intro to Scar tissue by RHCP, a song I never learned, played or listened to actively…
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Hi! Just as @nexion218 said: Learning melodies by ear and translate them to your instrument is a great method!
Try to listen deep into songs and compositions and concentrate on every instrument you hear. Listen to what the bass does, the rhythm guitar, listen to more complex music like jazz or classic and follow the arrangements of the brass, the strings etc… Use good headphones.
This will sharpen your hearing.
When it comes to ear training: You need to know, what you are hearing. So try to recognise chord changes like I - V - VI - IV etc. and so called “clichés”. You will find, that you already know a lot of stuff without knowing, what it was.
This stuff will help you to be a better musician and to enjoy music even more.
Have fun!
Thanks fellas. Hoping to dial in my ear. Think I’ll start easy and work my way to harder songs