Keep in mind that PVC pipe doesn't have a fixed maximum flow rate. As the flow rate increases the system slowly becomes less efficient. You need to go way over the design flow rate before there are any mechanical problems. The "ideal 7ft/sec pipe velocity" is a design guideline, not a hard limit.
Assuming you have a Hayward DE6020, the filter is within it's design flow rate and pressure. The flow rate is probably near the limit for that filter, while the pressure is comfortably under the max pressure. Poly filter tanks do have a slightly shorter lifetime at higher working pressures and there have been some problems with premature tank failure caused by high yet within spec operating pressures in the past (supposedly fixed now). I am not that familiar with Hayward warranty practices, but if there was a problem I don't see any reason why it wouldn't be covered under warranty other than the usual reluctance of some manufactures to pay out on warranties.
Switching to a two speed, or variable speed, pump could save a dramatic amount of electricity. The pump is presumably sized for spa mode, where high flow rates are required to operate the jets. Running the pump at a lower speed when filtering the pool would save money, probably quite a bit of money. However to get the flow rate that you are currently getting in spa mode the working pressure and flow rate would need to be the same as it is now regardless of what pump you get (so long as nothing other than the pump is changed).
Switching to a 1.5 HP pump or a two speed pump or a variable speed pump would only help in reducing the system pressure and flow rate if you don't actually need your current flow rate in spa mode. Figuring out what flow rate you require in spa mode is a bit complex and depends on the number and specific models of jets you have plus how much "action" you like to have in the spa when the jets are on. If you are getting more than enough jet action in the spa right now, getting a smaller or multi/variable speed pump could have several advantages beyond the savings in electricity.