X doesn't have "mouse speed". Instead, there are two values: acceleration and threshold.
When the mouse travels less than threshold pixels in a short time, it will use the actual device speed and resolution. But when it crosses the threshold, the speed will be multiplied by acceleration.
You can try changing the mouse resolution in xorg.conf. Add the following line to you mouse InputDevice section and experiment with different values. AFAIK, it should work for most PS/2 mice.
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Option "Resolution" "400"
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For some reason, KDE Control Center doesn't allow fractional values for acceleration, but you can set it manually with xset. With fractional values you lose the acceleration feature, though.
A few examples:
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xset m 7/10 # acceleration 7/10 with no threshold (i.e. constant speed)
xset m 3 10 # 3 × acceleration after 10 pixels
xset m # restore default
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