Mercurial armor is expensive, but I realized that if I was vendoring Almirian Seal items for crowns, I might as well get Ancient Plate and test with it before I vendor it.
So I ran laps in the advanced training hall in my normal gear and in full Ancient Plate (movement speed reduced: medium). I chose a rectangular circuit that was 44 tiles in circumference. There will be some random errors from me not cornering at exactly the same point on every lap, but they should mostly cancel out.
15 laps (660 tiles) in my normal gear took 2:15 (speed: 4.89 tiles/sec)
15 laps (660 tiles) in full Ancient Plate took 2:26 (speed: 4.52 tiles/sec)
Conclusion: Movement Speed Reduced: Medium lowers movement speed by around 7.5%. That's close enough to attack speed abilities that they probably use the same scale.
next step:try with mercurial, see if it scales in the opposite direction