This document provides an overview and update on Phase 1 results from SpeedPerception, a large-scale crowdsourcing study on perceived web performance. SpeedPerception tested hypotheses about the relationship between metrics and human perception by collecting data on user responses to pairs of website loading videos. The study found that no single metric explained choices with high accuracy, supporting Hypothesis 1. However, visual metrics did not perform better than non-visual metrics, contrary to Hypothesis 2. Users also did not consistently wait for visual completion, supporting Hypothesis 3. Phase 2 will explore these findings further, especially for mobile.