Not sure I understand the problem of it being "slow". Having learnt some of the forms that can be done in 2-3 minutes, my teacher then made me go through it, and tested my stance after every move. 2 hrs later we. had got to the 6th position, with only another 18 to go, and that was the short form!
To paraphrase one of the early masters " hit the exposed area without mercy" , so yes it can be a very effective martial art if you want, however the gentle, slow, poncy stuff is very good for body and mind .