So, being slowed also makes you silenced (since speaking is a free action)?
And you can't actually cast a standard action spell in one round, since preparing the material components is a free action when you take the cast a spell action?
That's a good point. I did not consider other miscellaneous actions that would be rendered useless were the spell interpreted along the lines that I presented.
Thanks for weighing in everyone and helping me through the question.
Cheers.