My question is this: if ripping speed doesn't matter and bit-perfect copying is assured so long as you rip with error correction, then why are so many audiophiles intent on using Exact Audio Copy and why does the Nova Physics Memory Player tout its Read Until Right methodology as a key component of its great sound? Something doesn't add up.
Actually, it adds up just fine.
Lots of people like EAC as it puts forth more effort than most ripping programs to assure an accurate read. I've had EAC spend more than 30 minutes, an hour or more trying to rip a single regular length song. Depending on the extent of damage, portions of a CD simply may not be accurately read no matter what the effort.
My music server is based on Linux so most of my ripping is done with the CD Paranoia based system but the goal is the same. Ripping speed is simply a function of how fast the program thinks it gets an accurate read. On a disk in good condition the process is fast so there is no reason to slow it down.
Most CD players read real-time. People want to hear music when they hit the play button so the amount of memory buffering available is nominal. Note that real time playing is inherently a 1X speed. (Not many people want to hear Pavarotti sound like a chipmunk.)
You might also check into the Reed Solomon C1/C2 error correction that audio CDs utilize. There is a difference between error correction that picks up correct data from another interleaved area of the disk and interpolated data if all the areas for a frame are damaged. A good start is Andy McFadden's http://www.cdrfaq.org.