beats per minute (bpm) as an integer value would likely be best. this would replace the descriptive speed settings that are currently implemented. if you want to get fancy, you could have the Italian tempo names display in the tempo selection menu when the corresponding numeric values are selected (i.e. "Allegro" when the user selects a bpm between 109 and 132).
I know that Music Box begins omitting consecutive notes at faster speeds, so a high tempo limit just before that happens would be perfect.
the low value could be around 40. anything less that doesn't have much practical purpose, though I suppose there's no harm in setting it to 1.