This is another question that came in through the Hypnosis Technique Exchange (http://groups.yahoo.com/group/HypnosisTechniqueExchange), the response to which is worth sharing here.

While one can distort one's perception of time, time itself still slogs along.  So, you couldn't physically accomplish more in the same amount of time, only your perception of it changes.  So, just as many professional baseball players who are "in the zone" experience a natural form of time distortion where it appears as if the ball slows down (and often appears bigger) so that in microseconds they are able to adjust the swing of the bat in order to connect . . . the actual speed of the ball does not change.

In terms of studying, I am assuming you are asking about things like reading which relies upon your eyes upon a page and turning the page rather than an external physical motor such as watching videos or listening to recordings (I do seriously doubt that listening to an audio at fast play or watching videos in fast forward will do you much good).

You can change your perception of time when studying, but whether or not you are able to absorb the material would require experimentation.  I happen to know you are experientially gifted and very good at going into hypnosis . . . so, decide what sort of experience you would like to achieve and test out approaches.

I would suggest that rather than concentrating on the perception of time itself (which can still be a nice rider suggestion) that you instead focus on the movement of your eyes on the page with suggestions toward information retention.  How fast you read a text is less important than how well you retain the material.  One of the drawbacks with systems like photoreading or various speed reading systems is that so much attention is paid to speed when it is really retention that is much more important.  Many people do retain more with such systems, but quite a few people find they get key points but not substance.

Having said that, I would be interested in hearing what you find your retention results are after you've experimented with the idea and tweaked the suggestions a bit.  Feel free to play with the concept and tweak it as you go along until you arrive at a system that works for you in terms of enhancing effectiveness.