I just about wore out the "pause" button in RTW. It's been much less of a problem in MTW2.
While the speed may be too much for new players, I've never had the feeling of being overwhelmed and watching battles fly by that I had with RTW.
I don't know whether that's because movement speeds have been toned down or because kill rates aren't as bad. There's room for debate.
So the short answer to your question, IMO, would be: No, I don't think the battle game speed is too fast.
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