OK, open up your game folder and browse to \GameInfo\Gameplay.constants file. Open it in your handy-dandy favorite text editor and search for this line:
gameSpeedData-Fast
If you look at that section (and the -Normal and -Slow sections before it) you can see what variables are altered when you go from slow to fast. Here's the whole section...
gameSpeedData-Fast
incomeGameSpeedScalar 0.30
shipBuildRateGameSpeedScalar 0.20
moduleBuildRateGameSpeedScalar 0.20
shipLinearMaxSpeedGameSpeedScalar 0.6
shipLinearAccelerationGameSpeedScalar 0.6
shipLinearDecelerationGameSpeedScalar 0.6
questCompleteHappinessDeltaScalar 0.25
cultureConnectionReferenceLength 750000
Edits here will not adjust combat times, merely how fast things get done. I noticed (I think) that the ship speed adjustors helped not only regular flight, but hyperspace as well. I do need a little more testing there tho.
Can anyone tell what the culture variable does?