Bumping your mileage will definitely net you a faster time. Get up to 65+ mpw if you can handle it.
When I first ran 1:21, I was right around 50 mpw. Within 8 months (June 2012 - February 2013), I got down to 1:15. I did this by doing 2 very specific things:
1) I increased my mileage. I averaged 67 mpw in the months weeks leading up to the 1:15. Peak week of 84 miles. I very gradually built up to that number and often took "down weeks" (10-20% mileage drop) every 5th week.
2) I ran one weekly workout and it was the same simple workout every week. I did this weekly workout for 2+ years straight starting in November 2012 (no joke). I am not claiming it's the "secret", but it sure as h*ll worked for me. I do understand that anecdotal evidence isn't worth much. Here is the workout:
A long run with miles alternating between goal pace and goal pace + 20-30s. Warm-up, alternating miles, cooldown all performed as a continuous run (no stops at any point once you start the warm-up).
Week 1 of a cycle would be something like l: 2-3 mile warm-up, 4-5 miles alternating 5:50/6:20, 2-3 mile cooldown. This nets an 8-11 mile run with lots of quality.
Peak weeks would have been right around: 3 mile warmup, 10-12 miles alternating 5:50/6:10, 3 mile cooldown.
The rest of my runs were all the same. 8-10 miles easy every morning. Right around 7:00 pace. Oftentimes, I would run progressively (start at 7:40, end around 6:20-6:30), but I never did that intentionally. I just focused on feel.
Like I said, this got me from 1:21 to 1:15 in 8 months. Within 15 months it had me at 1:13:47. I also dropped my marathon PR from 2:48 down to 2:39 during the same 15 month timeframe.