A reduction in cost of energy from wind is anticipated when maximum allowable tip velocity is allowed to increase. Rotor torque decreases as tip velocity increases and rotor size and power rating are held constant. Reduction in rotor torque yields a lighter weight gearbox, a decrease in the turbine cost, and an increase in the capacity for the turbine to deliver cost competitive electricity. The high speed rotor incurs costs attributable to rotor aero-acoustics and system loads. The increased loads of high speed rotors drive the sizing and cost of other components in the system. Rotor, drivetrain, and tower designs at 80 m/s maximum tip velocity and 100 m/s maximum tip velocity are created to quantify these effects. Component costs, annualized energy production, and cost of energy are computed for each design to quantify the change in overall cost of energy resulting from the increase in turbine tip velocity. High fidelity physics based models rather than cost and scaling models are used to perform the work. Results provide a quantitative assessment of anticipated costs and benefits for high speed rotors. Finally, important lessons regarding full system optimization of wind turbines are documented.