You can, it seems.
It looks like you need to change it in two places. First, on the third line of the save file, you'll see something like this:
46|1,0,30,2,6,1,1,0,1,1,1,1,1,1,1,1,0,0,1,22,-1,False,1-2-3-4-5-6-7-8-9,,,,1,2,1,0,1,1,3-1-15-1,,,0,0,0,0,0,1,1,
The red number is the indicator of game speed.
Epic = 0
Normal = 1
Blitz = 2
Once you adjusted that one, there's what seems to be a repeat of that section - and this second part seems more important. Go to the very LAST line of the file, and you'll see something like this:
23|2662|12|1|-1|-1|2662|0|218888888|A|1,0,30,2,6,1,1,0,1,1,1,1,1,1,1,1,0,0,1,22,-1,False,1-2-3-4-5-6-7-8-9,,,,1,2,1,0,1,1,3-1-15-1,,,0,0,0,0,0,1,1,|T1
Again, the highlighted number is the game speed number.
I tried this change a few times, and it worked for the few minutes I played. It worked both for new games, and games already several hours in progress.
HOWEVER, I only played a few minutes. There may be complications or unexpected side effects from messing around with the save file. So I recommend you make a back-up first, and don't be surprised if strange things happen later on. Messing with time machines rarely has good results.