Does the video appear slow in iCamSource on the computer as well? The framerate in iCamSource is determined by the camera.
On local Wi-Fi, you should see a few frames per second.
On a remote Wi-Fi hot spot, you should see about a frame per second.
On 3G, Apple requires us to keep the framerate less than 1 frame every 2 seconds (0.5 fps). This has been the limit since iCam was first released.
On EDGE, you'll probably see about one frame every 5 seconds or so, or as low as 1 frame every 10 seconds if you have a poor EDGE signal.
If the framerate you're seeing is significantly lower than that, please let me know what framerate you are seeing and what connection type you're using.