Reinhard's perception speed is far above his combat speed, that is what's being said. In Speed Equal, this remains true.
Reinhard was not at all trying against Elsa, he explicitly did not otherwise he would have absorbed the mana out of the environment that Emilia was using to heal Rom. This is why he waited UNTIL Emilia was done to do his giga-omega-super-duper slash.
It's more like playing chess except you get a year per move and your opponent gets a minute.
His page is kinda old and I think the only thing that's changed as of recent are his stats, some wording and some smaller additions, but
Cecilus has exactly the same ability (Reinhard upscales, even) and he's able to perceive his own movements as near-frozen.