I like your example. However, it is not exactly how I see pace. I always thought that with a slower pace, the offense would increase their pickiness on shots. So for example:
-with a slow pace, they would wait for an opportunity that would give them, on average, 1 pt per shot attempt
-with a fast pace, the offense would wait for an opportunity that would give them, on average, 0.9 pts per shot attempt
The issue with the slow pace is you hit the end of the shot clock more often and when you do that, the offense will take shots that have a low chance of success.
I think that the pace of the game is a combination of the offensive and defensive choices - when combined they give an overall "pace" to the game.
Run of the Mill Canadian Manager