how important/effective is shadow boxing? is it better than hitting the bags? i mean this is just about all i can do at home since my neighbors will complain if i hit the heavy bag or speed bag. do you think shadow boxing is better than the heavy bag or speed bag?
IMHO I'd say it's very important, if not just as important as hitting the heavy bag or sparring. It's something that you can do everyday without ****in up your body too much. Shadow boxing is also something you can do anytime without needing any equipment or a training partner. If I wanted to really be good I'd shadow box all the time. I'd shadow box after waking up, before and after running, before meals/shower/bed. You also mentioned the speed bag. That thing is probably something you can skip altogether. Your time is better spent jumping rope or other conditioning work.
It is best done to open the workout and to end the workout; reason being that you are beginning and ending with an eye on technique. Punching hard, developing timing and such is important, but not nearly as important as technique. Shadow boxing in front of a mirror allows you to do avoid developing bad habits and correct mistakes.
It is probably the most overlooked skill in the Boxer's training bag. Do it. Do it often. Play fight scenarios in your mind and work through them. This gives you some mental awareness. Fire shots, step with them, and maintain good balance. This keeps you from toppling over if you miss a shot. Shadow Boxing is probably the single most effective way to develop footwork.