Recently we've heard some new information on a few of the new perks from http://www.gamespot.com/pc/rpg/falloutnewvegas/news.html?sid=6281442&mode=previews and http://www.pcgamer.com/2010/10/14/sneak-peek-at-new-perks-in-fallout-new-vegas/ as well as a full traits list from http://fallout.wikia.com/wiki/Fallout:_New_Vegas_traits. In these articles, we've seen "Speed" mentioned in reference to attacks. Where The Vault takes it's description directly from gameplay, PC Gamer attempts to translate the in-game description into gameplay mechanics.
Loose Cannon: Thrown weapons fly 30% faster
Fast Shot: While using guns and energy weapons you fire 20% more quickly
Slayer: This perk increases the speed of all melee attacks by 30%, letting you wield anything from your bare fists to a golf club with ninja efficiency. The increased speed will be especially useful when fighting in VATS, letting you queue up more strikes on your opponents.
If we are to go by PC Gamer's impressions,
"Speed" is reflective of AP cost in VATS, as well as real time speed. What do you think?