At the risk of being accused of having some common sense, I will attempt to craft a workable compromise, as BOTH sides of the argument have some merit.
Do not impose a lake-wide speed limit; rather, designate an area or areas which allow unlimited speed, and limit it elsewhere.
For example: the broads, or any area which is at least a half mile from land / an island would permit unlimited speed.
Yeah, the distance thing is somewhat vague and amorphous, but by thunder, it could work!
Indeed, it DOES work for our freeways, where we allow and channel those vehicles wishing to travel at high speed.
While I thrill at the sight of a speed boat flying along (I used to own a Donzi), I recognize it not everybody's cuppa.
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