It's basically a generic question for any installment in the series in which you could get the fast-shoes power-up while still in Super Sonic form. I tried this in Sonic 2, and it seems to have actually made it take a little longer for Super Sonic to speed up, though I wasn't sure if there was any effect on his max. speed.
Seems to make him go slower. Or at least that's how it seemed in Sonic 3 and Knuckles. I should go hook up the Sega to confirm that.
Man it's been so long since i've played a classic Sonic title. =O! But I can safely say this question is a rather basic psycology problem. If I remember correctly the music does indeed speed up[like usual], giving one the impression{whether through connotative relation or a audible/visual trick balancing the motion to the sound} of a higher velocity, but I can not say I know/remember for sure if I could actually clear any 30 second portion[that is the duration of the power-up right? lol] of a stage doing the exact same motions as if I were not powered up, in any less time.
*rereads* The Big Bang Theory is on my mind, obviously. Darn you Sheldon!
Huh, I never noticed a difference in speed.
To answer the question: no, it does not. It actually lowers his acceleration, but his max speed is still at Super Sonic level. It's the same in Sonic 2, Sonic 3 and Sonic & Knuckles.