The pace is more about riding to a percentage of your abilities and less about adhering to speed limits. Most of the crew I ride with top out at about 60% of their abilities on the street. That's not to say that they're slow by any means. Some of the folks in the group are faster and cleaner than I'll ever be and I really only see them at major turns in the routes and when we stop. I'm a big fan of engine braking, staying in a low gear on street corners, and picking an entry speed I'm comfortable with. I'd much rather come out of a corner going "I can speed that entry up next time" rather than hitting the apex going "Shit! That was WAAAAAY to fast in..."
I was riding with someone new over the weekend and one of the things I told them was not to watch for my brake lights b/c I try not to get on the brakes going into a corner.
The other reason you're hearing about folks getting popped for speeding, etc. is because it's the major event of the ride when it happens. Most rides go off without a hitch or without any trouble so you never hear about them. Only a small percentage of the rides I've heard of involve close encounters with phsyics or law enforcement.