I was speedhacking in Azuremyst Isle for my blood elf bandit masks, and I asked in general if anyone has seen him. They replied "Stop speedhacking you cheater! It's not fair to the rest of us!" I was only going +10 speed... So obviously if you have quite a bit of ram, then it won't show you as lagging....
I got a GM whisper two hours later who then asked if I'm speed hacking, and I'm pretty sure he was by me so I put it to 1.20 (Actual Normal Speed) and no ban. Got lucky.
Oh and if you use this in WSG the battles will be so fast you won't even have to worry about getting reported. They won't remember your name.
Tested!