Pace is most commonly used for walking.running, or moving (often used in sports).
Pace is the rhythm or minimum constant speed needed to achieve something.
This is why you often see "pace makers/ setters" in long-distance running races, who's job it is. Is to set a pace for the hopeful winner to follow until the closing stages of the race.
You will hear commentators referring to this very often. The most successful racers have the ability to "pace themselves"
To set a pace you set up or decide how many steps/strides/ revolutions of an engine to constantly achieve to get to somewhere at a set time.
Speed is the velocity or distance covered in a set time.
The two are closely connected and can sometimes be interchanged.
"the pace of change in computer memory is currently double every six months"
Every six months computers are made that have double the memory.
"the speed of light or sound is a known figure"
the speed of light or sound etc does not alter its pace or even speed.
They are both set firmly in the known science of physics.
A car speeds up when The engine is reeved it goes faster, when the rate (pace) of engine piston strokes per second is increased.