I disagree vehemently.
People drive a speed they feel comfortable driving. Full Stop.
The only time a speed limit sign changes behavior in the vast majority of drivers (in the US anyway) is when a cop is present.
The smarter way to reduce speed in the sections of road that actually are more dangerous is to make them look more dangerous, for example by painting lines on the road that make you think you're travelling faster than you are.
There are major roads where, except for rush hour, 100% of cars on the road are travelling well above the speed limit because it is set far too low for a modern vehicle driving on a multi-lane, fairly straight highway.
This causes a fairly similar attitude toward speed limits that a large percentage of the population has toward pot: you scaremonger about something that obviously isn't dangerous in 95% of cases (pot / 35 MPH, 6 lane roads), which makes the remaining 5% of cases that are actually dangerous (Heroin / sharp turn with low visibility) seem less dangerous because you spent so much effort to conflate the two.
Meanwhile, we're unable to have a sober conversation about the subject that results in speed limits and road laws that make sense because of think of the children! scaremongering, e.g., "children on their way to school also lose the reverse lottery, but instead of a $300 fine, they die."