Thomas Shey
Legend
The basic problem is, in any even vaguely realistic sense, the guy who can move and react 2-10x faster than everyone else is so utterly out of their league in every respect that they cannot reasonably be engaged with on a meaningful basis (though there might be some tricks you could employ to negate this advantage). So, as soon as your game espouses any sort of simulationist agenda in which even a vague sense of things corresponding to reality coupled with such an ability is part of the game, you will run into this. Either it needs to be a trope "all vampires are blindingly fast and thus normal humans are as sheep to them." or this sort of combat ability needs to be super limited or mostly unavailable for some other reasons, etc. The problem of course is that players will always try to find a way to take something really powerful and get around its limitations in game systems that are at all gamist, and/or where other aspects of the game make such correspond with an agenda.
There are ways to hose it down some, though. Notably, later editions of SR, instead of having most of the actions before the actions of the single-action (or even multiple but slower) opponents, had them occur after. It was still a pretty notable benefit, but not as utterly crippling to be on the wrong end of.
So it was bad in the sense that it undermined game play. Now, if how well you fight wasn't really that important, and the game focused on something else entirely, or every PC did the same thing, then it wouldn't really be a problem. This is pretty well explicated by considering it a gamist/HCS agenda mismatch.
It has to be really focused in other areas, however, and you can't make it any kind of choice whether to do it or not if it is partly focused on combat, otherwise the lack of it becomes a trap option.
(Its not a coincidence that I only know one superhero game that tried to represent superspeed that way, and it was notoriously called out for it).