But naturally doing everything faster would be pretty freaking awesome in itself.

• increased yearly economic growth (consequently higher average living standards since babies still take 9 months to make)
• it would help everyone cram much more living into their lifespan.
• it would help experts deal with events that aren't sped up much better. Say an oil leak in the Gulf of Mexico.
• medical advances would arrive earlier meaning that lots of people who would otherwise have died might live for a few more productive (sped up!) years.

But I'm having way to much fun nitpicking so I'll just stop here. :)