The whole eye-moving thing is a complete waste of time and effort. The real trick to speed reading is RSVP[1], rapid serial visual presentation.

In RSVP the words or small groups of words are flashed in extremely fast succession without the need for the reader to move their eyes at all.

I use iRSVP on my iPhone to read books from my Calibre library and my reading speed has never been higher. It's not for everyone and requires a high degree of concentration, but it enables me to read and understand books much faster that I would have been able to otherwise.

[1] http://en.wikipedia.org/wiki/Rapid_serial_visual_presentatio...