Yea, coarse-speed doesn't look as good, and is less "correct" in that under extreme circumstances a fast ship might pass "through" a short-range ship's range-bubble in one frame, and not actually ever be in range. But that's really an edge case. The onus is somewhat on the player to not break the game, and just use it to speed up things that would otherwise be uninteresting.
And yes, I know about the ships bouncing back and forth on coarse-speed. It's probably just a matter of detecting "that would overshoot your destination, so just snap to your destination".