Burning Speed does affect reliability but it really is a waste of time to read at 1x and burn at the lowest speed of your burner. The only constant here is that audio should be read at no more than 8x UNLESS the reader is a Plexie or a late model, high-end Yammy - they both have extra circuitry for jitter-free DAE, which is why they're expensive. Extra cost for name-brand doesn't enter the equation. If Plextor and Yamaha could economically sell their units for the same price as, say, Liteon or ASUS they would
Why 8x? The answer is math and I'd put us all to sleep if I explained the reasons
PSX is another kettle of fish. I read and write PSX as slow as possible. I keep my Ricoh MP7163A for just this reason. There is a marked difference in the step height between a CD-R and a console disc; and the laser reader on the console is lousy in various areas as well. I use expensive, quality, speed certified media for PSX. Verbatim light blue has possibly the best Aluminium spattering of any CD-R.
For a little elaboration on why speed is important, take a look at www.quantized.com for very good explanation of recorded and unrecorded disc tests. You will need to read each test several times to get an appreciation for what goes on at the atomic level
Hell Hath No Fury Like ASPI Scorned