You sure you didn't simply turned on Turbo(with TAB key)? When you run the game in the window frame limiter does say "normal", or something else?
That's the most common problem since everyone love to abuse alt+tab, or using wsad and surroundings for keyboard controls and since newbies typically don't know half of the keys accidents can happen. Soo just to make it sure if it doesn't say "Limiter: Normal", keys for you:
- TAB - toggles Turbo mode(shift+TAB would be slowmo, but you have it set at default 50% speed, hence it would just slow down the game;p),
- F4 - toggles frame limiter.
^If you're pressing any of it by accident or worse, set it as a key to controlling game, now you know why the game runs too fast;p.
Other than that, not much could be broken that would make the game run "too fast" unless using some strange hacky pcsx2 build. You could always try to restore default setting. Or maybe it's just your first time playing this game or all your previous times were made on some ancient emu version and/or awful crappy settings? I would say this game feels somewhat faster than most "normal" side view fighting games so might be just your feeling.