It could well be making a diff in your setup.You could be right, but a few points. Its been consistently cold here, extremely cold for the last 2 weeks, so i have a base line i feel. I have never reached the temps that i have for the last 2 days now, and im using that exact same wood. Another thing i am noticing is my hot peak temp is staying put for at least 1 extra hour during my burns. I wish someone else would try this and see there results.
Maybe with the fan running slower the air has more of a chance to heat up before entering the room even.
I think with a insert the effects of a fan could be more noticeable either way.