Simply going faster doesn't necessarily imply going farther.
See, and I don't view gifted as a matter of speed. Perhaps that it b/c my kids are less fast than they are different. Dd11 could be viewed as going faster in that she is very academically advanced by all measures. However, she regularly takes longer than the teacher intended on her homework assignments and is more of a deep processor than a fast processor.
Dd9 is more divergent and creative than she is fast. She sees the end result without getting the intermediary steps and she often devises her own ways to solve problems that, more often than not, work quite well. Neither of my girls tested above average on the processing speed component of the intelligence tests they were given.
I, on the other hand, am straight fast. I always finished assignments, tests, everything in half the time allotted or less. I wouldn't view myself as more intelligent than my kids, though, and I would venture to say that my eldest at least is brighter than am I.