Yes, I think that's probably overkill. More to the point, it's not taking advantage of your pump's potential to save energy and wear (assuming it has a programmable controller?).
When planning a VS pump schedule, keep in mind that energy consumption isn't linear: half the speed may consume one quarter of the energy! I'd bet that you could reduce your consumption by at least 50% without sacrificing FC levels or filtering.
Also consider skimming effectiveness. Slow speeds can still circulate water quite effectively and enable your SWG (depending on the pool, equipment and environment of course), but it may render the skimmer almost useless.
If you notice floating debris is not ending up in the skimmer, you may want a cycle of higher speed to make that happen. Experiment with the duration and speed to find the least amount of time/lowest speed that accomplishes the goal. (this can change during a season, particularly if plant and tree debris can blow into the pool). Early on with my indoor pool, I assumed that the skimmer had very little work to do. However, I found that barely-visible dust can settle on the surface of my pool and it needs a relatively short cycle at 2,800 to pull it over the weir. Outdoor pools can face similar changes, maybe less with dust but more with pollen etc.
I also schedule pumping to coincide with my likely swimming schedule, and I would definitely do that (overlap) with a SWG. (it makes sense to let the SWG replenish FC after swimming)
Determine Pump Run Time
