character speed control on PC - we had this stuff figured out in 2002, when Splinter Cell came out! Why the hell are we still stuck with terribly slow walk and slightly too fast jogging?
So, this may not be a real problem if people aren’t dead-set on hard realism, but one point that I recall being made is that in general, in-game characters tend to move more-quickly than real world people do. IIRC from a long-ago article, Quake 2 was calculated to have the main character running at about 35 mph. Even an unencumbered Usain Bolt doing a short sprint isn’t gonna be in that neighborhood. That has some significant tactical impacts in a number of games in terms of, say, the ability to close on a ranged attacker or the value of ambushing.
A number of military sims that I’ve seen – a game genre where having realistic speeds often matter a lot – provide “time compression”, where one can speed up the game world to get through periods where nothing interesting is happening. That does require the game to be able to simulate the world at a higher rate than normal, though.