This doesn't affect walking speed.
What's significant is that the default is no longer 2 ticks/frame but instead 110 milliseconds/frame, however many ticks/frame comes closest to meeting that. 110ms is equivalent to two ticks at the default 18.3fps / 55ms/frame. This changes all existing games that use a framerate other than the default 18 fps, so I'd like to hear whether it's a problem for anyone/any game. I think in general games that used a non-default framerate now look better.

Here's an example from delinquent.rpg by Feenicks. The game runs at 30fps, so it used to be 66ms per frame, now it's 100ms. The difference is more noticeable when actually playing.
<img src="http://tmc.castleparadox.com/pics/ohrbl ... _speed.gif" width="640"> <== before, 2 ticks/frame
<img src="http://tmc.castleparadox.com/pics/ohrbl ... _speed.gif" width="640"> <== now, 3 ticks/frame
At least the three-frame walking script on the wiki still works.
There's still more to be done to allow using non-default framerates without problems, but this was the biggest problem.