It depends on your loop, when i ran a separate loop with just the CPU and a 240 rad in, the speed made no difference at all so i just left it on setting 1.
When i ran a large loop that goes 480>res/pump>240>240>360>gpu1&gpu2>cpu> the gpus dump a bit of heat on the CPU and it tended to get a little hotter, if i turned up the pump speed slightly it went back to normal temps.
I run mine on setting 3/5 now, not sure what RPM that is cause i dont have the speed sensor hooked up.