Type '/set ed 150'
Type '/sm 1'
contract left elbow, space, observe speed
newgame
contract left elbow and pecs, space, observe speed
As you can see, the second scenario has faster movement.
And to answer NutHug's question, when you edit a replay with notepad, you will see a line called ANGVEL. That line is the speed of the rotation of a joint. That means, a joint itself, can vary it's speed.