I own a security equipment corporation (see
http://www.twowaymirrors.net ) and am interested in how electic
lockpicks work. Are they as effective as regular lockpicks, or do they
not open very many locks? Product reviews/opinions and websites that
explain how they work in detail would be helpful.

BTW don't use any information gathered by this question to break the
law! Owning such equipment can be considered ILLEGAL in some areas!

I don't see how I can answer the question without telling people
exactly how to pick a lock.

the electric ones don't work well in my opinion, the lever/spring
activated ones are very ajustable, and work very well.
regular lockpicks? the little tools are somewhat hard to use, but if
you are very skilled you get more locks that way.
just about anything works on cheep pin tumbler locks (vertually every
home hase one on its front door) wafer locks (like on a car) are hard
no matter how you try.

I sugest you take a locksmithing course, every security company should
have at least one licensed loksmith on staff (and that certification
makes it leagal to own lockpicking tools in some areas).