I've seen Offensive Tempo affect how quickly passes are made but only in Freelance situations. Otherwise, it impacts how quickly shots are taken but does not override the set up passing and dribbling of a Set Play. Set Plays are the same regardless of coach profiles and that's why the custom playbooks are a necessity. Your example of giving a playbook with 100% quick hit plays to a team with Offensive Tempo at 0 would never make real world sense and that's kind of my point. You would give such a playbook to a team with a high Tempo and vice-versa for low Tempo teams. Since most of the game is played out using set plays, the playbook becomes the most important aspect of 2K12 for non-user controlled teams.
Matching the Offensive Tempo slider to teams and coaches actual historical tempo still makes the most sense to me. The only confusion revolves around the vague and often misleading descriptions given to a lot of attributes, sliders, and settings within the game. It would be great if they could provide a list of every area that each slider/setting impacts but I doubt we'll ever get that kind of insight into our sports games since everyone wants to protect their IP.
I also doubt that the 360/PS3 versions are different, but the PC version will be different until the patch comes out. Where did the concept of a different 360/PS3 version come from? That kind of mistake wouldn't be so easily overlooked.