Nope!
Decreasing spell casting speed actually increases it. That's because spell casting is done kind of like weapons...it's measured in parts of a round. A spell that takes 1 to cast casts 1/10 of the way through the round, a spell that takes 10 to cast takes place at the end of the round. So the -1 on the Amulet of Power means that a spell that had a speed of 5 now has one of 4 (i.e. 1/10 of a round faster). When added to the RoV (which subtracts another 3), then you get a total of -4 (that is, a spell with a speed of 5- which normally took 3 seconds to cast- will now cast as fast a magic missile).
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