I have put a great deal of reading into this subject this weekend. Let me re-express my views on time in a different way.
Time, as we call it, is nothing more than the observation of motion throughout the universe. The earth in relation to the sun. The rotation in relation to the suns location is day and night. The movement through a complete orbit is a year.
Let us suppose that particles, for some reason, stopped moving. Time, as we know it, would stop. Cease to be. Even though the particles are still present and still exist, no measure of time can be found. So when we speak of time, we are speaking of an observation.
Now, let us suppose that the earth rotation were increased and that its orbit was also expedited. Time would then alter to move much more quickly, directly related to increase in the speed of particles.
Time, thought it has proven to be an accurate description of the pattern held by common particles, cannot ever be considered a constant, nor can it be considered accurate. In this case, the speed of time is completely subjective to the view of the observer.
Let us suppose that the motion of particles as we know it does not change but the rate at which we are able to conceive it does. In this way, time would seem to be moving faster or slower according to how we perceive it.
The speed of time is limited to the speed of perception which, at this point, is the speed of light. But suppose we were able to find a way to augment the human mind or even evolve to perceive things in a wave form. If we were able to accomplish this, time would no longer hold value or validity. Time does not move and so time does not have a speed. We interact and so time is limited by our perception of motion.
Tell me, would time be of any concern if we did not need sleep and could travel at the speed of wave forms which hold not intrinsic time value?
Would time be necessary if we no longer observed things in a particle universe but rather, understood and could see all matter in whatever form?
Of course it would not. Because, if this were true, we would no longer be limited to the 3 or 4 dimensional universe (depending on which model you follow).
Final summation, time travels at the speed of perception.