While the game is open there are few differences. A nursing mother will take longer, the fire will last longer without needing to be refuelled, and the gaps between crops will be longer on the slower speeds. However, when the game is closed the differences become much more marked; a village would earn only a quarter of the tech points and make progress in a building project only a quarter as far over a given period when on half speed compared with 2 X speed.
_________________________
To err is human; to arr is pirate.