Pace min and max speed under Physics setting does have impact on the overall gameplay. Especially the arm ball/sliders are vicious when you change these settings to anything from 60 and above. I typically set these settings to 35 and 65.
Another thing i have been experimenting is the bowling quality and bounce. The higher you go with bowling quality for AI, shorter the length of the deliveries that the AI typically bowl with. I found the bowling quality of about 85-88 with pitch and ball bounce around 35 yields satisfactory result. Along with these settings, i also set the short ball length to 30. With all these settings i get appropriate amount of bounce on all pitches.