I think Ric and I have similar driving habits.
In my summer's travels (~8,000 miles, all range of conditions, cross country and then some), I probably drove a good 4,000 miles in excess of 75 MPH. I know my truck tops out just over 100 MPH on the flat, and comfortable speed ranges to 85-95 in good conditions. I'll make good time on good roads in light traffic. I found that slowing down through urban areas tends to reduce the threat profile of speeding tickets (the cops don't like being out in the boonies either), as does staying off the Interstates. I've had a grand total of four speeding tickets in sixteen years of driving.
My view on speed laws is this: speed is a readily measured, easily assessed, metric. It's far easier to determine that a vehicle is speeding than if the driver is drunk, stoned, tired, or too ill to drive. Than if the vehicle has bad brakes, busted pollution controls, or other mechanical deficit. Than that the driver's been tailgating, changing lanes without signalling, engaging in distracting activities (tallking on a mobile, eating, dressing, applying make-up, shaving, having sex). The Texas funding change is an interesting one -- I strongly suspect that if the revenue link disappeared, so would most speed traps.
I also feel very strongly about slowing down through pedestrian areas, regardless of posted limits. No mean feat on US 50 through the midwest, where it seems like the towns come every five or six miles (almost European scale). And particularly around residential areas near where I'm at.
The street I've lived on for the past two and a half years parallels a congested portion of El Camino Real in Menlo Park. It's a block from the Menlo PD, but still gets a fair number of high-speed vehicles (it's a 25 MPH zone). There is a school at one end, a church at the other, two blind junctions mid-way, apartments and houses the length, with seniors, kids, pets, cyclists, and a fair pedestrian flow. As I was getting into my truck one night a month back, I heard and saw a car accelerating rapidly up the street...so I stood in its path (and yes, I'd have dodged if he hadn't slowed down). Turns out the driver was an (off-duty) cop. I exchanged a few words with him, he was somewhat combative, I reported the incident. Fun little exercise.
There's a bit of sanity returning to speed laws. The lifting of the 55 MPH limit is one of the best things to happen. I also think that the constant irritant of a law which quite obviously can't be effectively enforced leads to a more general contempt of law, harmful in the long run. At the very least, we become legal relativists "breaking this law isn't so bad", and laws be come arbitrary "we've got something to hang you with should we need it".