Yes, I have ideas on making up time
. First banish the initial thought of walking/running faster. If you just go out and try to go faster you will more than likely lengthen your stride with little increase in cadence or turnover. See speed is simply stride length (distance) x turn over (number strides per minute). Most folks will inadvertently add distance per stride which may be the incorrect thing to do. The perfect stride length is one where you are able to land mid foot and where the foot is already starting to pull back at contact with ground. What ends up happening if the stride is too long is you move out to a heal striker (or extreme heel striker). If you imagine what you leg looks like when if is full forward, your knee is straighter and when the heal hits it creates more braking action. This wastes energy and worse, increases stress forces exponentially.
So, for speed work I suggest long hill intervals over speed work at first, or until you are better in tune with your body. Hill work is speed work in disguise. It is lower stress on the body simply because you shorten stride as a result of the climb. All the while you are increasing leg strength and eventually turn over as a result. We are really looking for a hill that will take you 2-10 minutes to complete going up. The longer the better
. but even a shorter hill will work. You are looking to warm up for the workout for 5-10 minutes then run/walk up the hill at an EFFORT (not speed) that will only allow you to say maybe 1-3 words per breath. That is upper aerobic/lower anaerobic effort and is the perfect point for interval work. If the efforts are shorter, do 3-5 intervals the first week, fewer if the hill is longer. The interval is go up then walk down aiming to start the next interval within the same amount of time it took you to climb up the hill.
Do these workouts once a week for now. Add more intervals as the effort gets easier. Later you will want to work on speed along with hills.
I am interested on the weight ratio statistic
.That is the first I heard of 2 seconds per pound. A simpler statistic that I have research on is the one that states speed gain is inversely proportional on a one for one percentage basis. Simply for every % of weight loss, one can expect a similar percentage speed increase; everything else being constant.
Hang in there with the foot injury. It can take a while for feet to heal
I am just not an outdoor runner. I can run on the treadmill and not get winded. One minute outside and I am huffing and puffing.
Even with no hills. I really want to do the Princess. Going to start training with the Galloway method. Maybe that will get me going. 
