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gwern comments on Recent updates to gwern.net (2012-2013) - Less Wrong
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I think it is. As I mention in my footnote, it's been a long time since I was reading up on the topic and I don't have any notes, but I recall the gist being that it's at the upper levels that you forfeit comprehension and that for lower speeds like <400wpm on nontechnical material you may even get better comprehension.
In summary, it's useful to be capable of different reading speeds to adapt to the current task? Skimming (or Ctrl-F) for searching for useful text passages, fast reading for technical material one is familiar with, slow reading and re-reading for technical material one is not familiar with, slow dabbling in texts one reads for recreational purposes.