Timing best analogy is 'like' accessing an Excel Spread Sheet {CL-Find, TRCD-Accessing Row/Column, TRP-Accessing Next, and TRAS-Total Time}. CL, TRCD, TRP, TRAS http://en.wikipedia.org/wiki/Memory_timings
Next understanding how Latency & Timing are related which is inversely to increased Frequency {Sine Wave}. Further, efficiency through Lithography {e.g. 32nm or less - less is better}, Voltage {good correlation with Lithography} and Lower Operational Temperatures {increased stability}. To confuse it more, the true measure is a good quality and efficient IC; LOOKING at timings/frequency doesn't provide the 'Answer' what's faster. To KNOW you need to Bench Test with Apps like Super PI.
The initial identification of Good RAM is High Frequency {Fast} with Low CAS {Fast} and the efficiency with Low-Tight CAS Timings. Tight - 8-8-8; Loose = 7-8-7. Often the Mfg's go for a low CL in sacrificing TRCD which may or may not be faster, again the Bench Test.