The other parts of using Speeds is assigning them to various operations. This is done in the "Speed Settings" window which is also available from the "Config" menu option. This is a multi-tabbed window with each tab allowing you to set specific speeds for various operations:

Notice in my settings I've changed the XY Axis (the general pick and place running speed) to my "XY Half" setting. All these settings are completely sensible and there's no reason to change any; but it's interesting to explore and get an idea of how you might tweak the machine to better results. Notice the tab "Dispensing running speed" which I assume is for machines with adhesive dispensers (which the SMT50 doesn't have).