Speed Potions have no effect on pigs while riding them, they don't move any faster.
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rydian
Confirmed in 13w07a.
Both I and the pig had speed II (via a splash potion) and while the pig ran around fast when hit and I ran around fast normally, riding the pig with a carrot-on-a-stick was normal movement speed.
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Confirmed in 13w11a.
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Still a concern in 1.7.4/5 and 14w08a. I think this is intended since you need to have a Carrot on a Stick to control them and make them go faster.
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I think it's a bug. If speed makes them move, say, twice as fast, then they should move twice as fast as they normally would with a carrot-on-a-stick.
rydian
Still a concern in 1.8.1-pre5.
kumasasa
Is this still an issue in the current Minecraft Snapshot 15w49b or later? If so, please update the affected versions in order to best aid Mojang ensuring bugs are still valid in the latest releases/pre-releases.
shufboyardee
Fixed as of 1.10.2
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Confirmed fixed.
Confirmed